Bitcoin ($BTC) price ended its five-month losing streak with a 2% gain in March 2026, despite fears of a further sell-off in the second quarter.
The flagship cryptocurrency experienced a relief rally last month, producing an inverted hammer candlestick, a formation that has historically signaled bullish sentiment during bearish market conditions. Since Bitcoin price hit its all-time high (ATH) of $126,198 in October 2025, it fell over 41% in the subsequent five consecutive months, according to crypto market data from TradingView as of April 1.
Over the past 24 hours, $BTC price was up nearly 3% to trade at about $68,702 at the time of reporting. As such, Bitcoin had a market capitalization of about $1.36 trillion, with a 24-hour trading volume of approximately $43.45 billion at press time.
Bitcoin price forecast
With Bitcoin attempting a trend reversal over the past 30 days, traders have cautiously turned bullish, though concerns about potential capitulation persist. This shift in sentiment is reflected in CoinMarketCap’s Fear and Greed Index, which recovered from Extreme Fear readings earlier in March to a Fear reading of 32 on Wednesday, April 1.
From a bullish perspective, Bitcoin price closed the first quarter, with a retest and rebound from its 2021 peak, around $69,000. As such, a possible relief rally is expected in the second quarter, as predicted by financial experts from ActivTrades.
Meanwhile, pseudonymous analyst PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, has cautioned traders of a potential bull trap. This analyst highlighted on Wednesday that Bitcoin price could fall below its 200-weekly Moving Average (MA), which is currently hovering at around $59,000, and revisit its realized price of $54,000 before kickstarting its next bull leg.
