Bitcoin has hit a new high, signaling the end of the bear market?

On March 17, 2026, Bitcoin's price rose above $75,000 for the first time in a month and a half. In doing so, Bitcoin reached a new local peak, returning to levels seen in February.

Compared to the local low recorded in early February at $62,000, Bitcoin's price has increased by over 20%, restoring positive sentiment to the crypto market. Bitcoin's market capitalization has once again approached the $1.5 trillion mark.

This positive momentum has impacted the entire cryptocurrency market: during the same period, the sector's total capitalization grew by 9%, from $2.33 trillion to $2.54 trillion. The market sentiment indicator, known as the Fear & Greed Index, moved out of the "extreme fear" zone and returned to normal levels, rising from a minimum of 8 points to 44.

Bitcoin's new high: temporary or trend change?

Analysts are divided on this issue: some believe Bitcoin's new high is part of the ongoing bear market, while others suggest that the current dynamics could indicate a market reversal.

One group of experts, including the well-known analyst Willy Woo, takes a cautious approach. In his opinion, although Bitcoin has reached a local high, it is still in the middle of a liquidity-driven bear market.

Other analysts, including those at Santiment, also see signs of a positive reversal in Bitcoin's price, which has reached a new high, marking the first in 1.5 months. They believe that active accumulation of Bitcoin by large holders supports this view.

According to analysts, large holders accumulated a record amount of Bitcoin in February, the largest since November 2025. Amid the February crash, whales added over $4 billion in Bitcoin to their wallets in just one week.

Experts at CryptoQuant also believe that Bitcoin's new high signals the end of the downtrend and a return to growth for the crypto market. They note that the Exchange Whale Ratio* indicator reached a six-month high, signaling the imminent start of an uptrend.

* Exchange Whale Ratio — this indicator measures the ratio of large transactions on cryptocurrency exchanges to the total transaction volume. It is used to assess the activity of major players (whales) in the market to understand how their actions might influence price trends.

However, some members of the cryptocurrency community hold more radical views, believing that Bitcoin's recent high is only temporary and the end of Bitcoin may be near.

For instance, the famous trader Ran Neuner has predicted Bitcoin's demise due to the potential shift of major miners into the artificial intelligence sector, which offers far greater returns for the same energy consumption. For instance, miners' earnings per megawatt range from $57 to $129, whereas AI can generate $200 to $500 per megawatt in data centers.

Notably, the mining company Hut 8 signed a $7 billion contract with Google to build AI infrastructure, and Cipher Mining reduced its hash rate (overall computational power) to support neural networks.

Why did Bitcoin reach a new high?

Experts note that among the possible reasons for Bitcoin's rise in February—March 2026, both geopolitical and market factors are at play. One reason why Bitcoin reached a new high is the increased activity from buyers.

For a consecutive week, there has been a net inflow of funds into Bitcoin-based funds, something not seen since early February. This rise was also bolstered by Bitcoin reaching a new high, which fueled investor interest in cryptocurrency-based assets.

Alongside this, analysts at CryptoQuant recorded a return of large buyers to exchanges. They noted that the trading volume has shifted in favor of buyers, whereas in February, sellers had been dominant.

Another positive signal was the mass withdrawal of over 30,000 Bitcoin to cold wallets in the past month. Experts believe this indicates that investors are moving assets for long-term storage and are not planning to sell Bitcoin in the near future.

Meanwhile, in March, the total number of mined Bitcoin coins surpassed 20 million out of a possible 21 million. This milestone reminded holders that the primary cryptocurrency has a limited supply, which makes it a valuable asset in the eyes of investors. On the same day, Bitcoin's price resumed its upward trend after a local drop, and just two days later, Bitcoin reached a new high, surpassing $70,000 once again.

Another reason for Bitcoin's new high is geopolitical events.

For example, the cryptocurrency market responded positively to news of potential negotiations between Iran and the United States. This fueled optimism among investors, who began reallocating capital back into high-risk assets such as cryptocurrencies.

Paradoxically, the ongoing conflict between Iran and the U.S. may exacerbate the negative dynamics of traditional markets and lead to the devaluation of fiat currencies, prompting investors to again turn to assets like Bitcoin.

Another significant factor for Bitcoin reaching a new high is the "regulatory thaw" in the cryptocurrency market. Several events point to this:

• The U.S. Treasury's recognition of the legality of using crypto mixers;
• The U.S. Securities and Exchange Commission's initiative to strengthen oversight of the cryptocurrency market.
• The upcoming passage of the Clarity Act (Stablecoin Transparency Act), aimed at increasing transparency in the stablecoin market.