A huge obstacle that will lower the price of Bitcoin

Meanwhile, another analyst explained where Bitcoin is headed.

The price of Bitcoin has experienced a sharp volatility in the last week, especially after the attacks between Israel and the US on the one hand and Iran, on the other hand, started on Saturday morning. During this period, the asset tried to recover the desired level of $70,000 on several occasions, but to no avail.

The latest example was on Monday, when it rose $5,000 in minutes, from $65,200 to $70,150. However, the bears stopped the move and pushed the cryptocurrency to $66,400.

Although it has regained some ground and is close to $69,000 as of press time, the well-known CW analyst believes there is a huge obstacle in its way.

Citing data from Coinglass, they indicated that Bitcoin sharks are forming sell orders at current levels, which “depresses the price.” Bitcoin could go higher “when these sell orders disappear,” they added.

$BTC Kits form sell orders and lower the price.

When these sell orders are cleared, the next move is made. pic.twitter.com/RsLIajaxpM

— CW (@CW8900) March 4, 2026

Fellow analyst Ali Martinez also weighed in on BTC’s recent performance, and specifically on its expected bottom during this bearish period. He noted that assets have historically priced between 1.0 and 0.8 MVRV.

The market value metric is calculated by dividing the former by the latter. A higher rate usually means that the underlying asset may be overvalued and vice versa.

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If history is any indication, the bottom of bitcoin is not in yet. Instead, Martinez’s chart suggests it could be between $43,600 and $54,500.

During the last decade, Bitcoin $BTC consistently priced between 1.0 and 0.8 MVRV. pic.twitter.com/bETaOvRPNN

— Ali Charts (@alicharts) March 4, 2026