Bitcoin (BTC) is trading near $68,400, posting a 2.6% gain over the past 24 hours as the market attempts to reverse a tough first quarter. Although the asset faced significant headwinds following its halving, emerging data suggests that further institutional inflows are effectively countering the recent selling pressure.
Despite the bearish sentiment that has characterized the start of 2026, sophisticated capital appears to be stepping in to defend key support levels. Jan van Eck, CEO of investment management firm VanEck, says the correction has run its course, suggesting the asset is adhering to its historic four-year cycle rather than succumbing to new structural weaknesses.
🚨JAN VAN ECK, CEO of VANECK: “I think we are reaching a bottom” on Bitcoin
VanEck CEO Jan van Eck said he believed $BTC forms a market bottom, marking a notable change in tone from the asset management giant that launched one of the first spot Bitcoin ETFs in the United States.… pic.twitter.com/rYMecqf1JS
– BSCN (@BSCNews) March 2, 2026
Market observers are now weighing the worst quarterly performance in years against the strongest capital floor ever seen in digital assets. Van Eck’s thesis posits that the “crypto winter” phase is coming to an end, paving the way for a cyclical recovery driven by the mathematics of scarcity and institutional accumulation.
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BlackRock’s IBIT and Fidelity’s FBTC continue to hold significant market share
Traders are closely watching the $68,400 level as Bitcoin attempts to reclaim psychological resistance at $70,000. BTC price analysis indicates that maintaining support above the 50-day moving average is critical for the uptrend to continue. T
The main downside risk remains the $60,000 support level. A decisive close below this zone could invalidate the bottom thesis and open the door for a deeper correction towards the $52,000 region. Conversely, a sustained move above $72,000 would confirm a trend reversal, strongly encouraging secondary capital to re-enter the market.
Bitcoin has been stuck in this range for a month. pic.twitter.com/fzjnjYkmV0
– Bike (@velo_xyz) March 3, 2026
While retail sentiment remains cautious, institutional activity tells a different story regarding Bitcoin’s bottom. Data from spot Crypto ETFs indicates that smart money took advantage of the recent decline to accumulate positions at a discount. Despite earlier capital outflows, major issuers saw a reversal in flow dynamics, with BlackRock’s IBIT and Fidelity’s FBTC continuing to hold significant market share.
This accumulation is essential, because it effectively acts as a stabilizing force in times of volatility, absorbing liquidity that would otherwise drive prices down. On-chain analytics firm Glassnode notes that long-term holder supply has remained resilient near the $60,000 mark. This behavior suggests that entities with a high time preference distribute coins to institutional custodians in the longer term, thereby increasing the cost base of the network.
Additionally, Bitcoin miners are showing signs of strategic adaptation rather than capitulation. Contrary to fears of a death spiral after the halving, miner balances have stabilized. Large-scale mining operations have diversified their revenue streams, reducing the immediate need to liquidate inventory to cover operational costs. This reduction in selling pressure from miners complements the accumulation on the demand side of ETFs, creating a structural squeeze on available supply.
Source: SoSoValue
Minors do not sell. The accumulation trend score is reaching high levels near the $60,000 support. #Bitcoin
– Glassnode Alerts (@glassnodealerts) March 3, 2026
Jan van Eck: the flight towards quality forms a floor price
Speaking to the media earlier this week, Jan van Eck doubled down on his company’s bullish checks, identifying the current price action as a classic bottom formation. Van Eck suggested that analysts have overcomplicated Bitcoin’s recent price action, arguing that the four-year cycle has been the main driver of keeping prices down – and that this pressure is now ending.
“Our view for 2026 is that Bitcoin is governed by a limited supply of 21 million,” van Eck noted. He pointed out that even though the market has matured, the fundamental mechanisms of the halving cycle continue to dictate macroeconomic supply shocks. According to van Eck, the market is currently digesting the final phase of this cycle, in line with historical patterns seen in previous eras.
Secondary voices in the market echo this sentiment, highlighting a flight-to-quality dynamic amid broader economic uncertainty. With geopolitical tensions increasing, Jan van Eck speculated that Bitcoin’s recovery was partly triggered by its utility as a non-sovereign rail for capital movements. However, for the bullish thesis to fully materialize, Bitcoin must decouple itself from risk stocks and reaffirm its correlation with store of value assets like gold.
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As institutions accumulate, Bitcoin Hyper expands the ecosystem
As institutional giants accumulate spot BTC, the broader Bitcoin ecosystem is also seeing layer 2 development accelerate to meet future demand. Projects like Bitcoin Hyper are emerging to address scalability, aiming to leverage Bitcoin’s security while enabling high-speed transactions for the next wave of adoption.
Bitcoin Hyper connects the Ethereum Virtual Machine (EVM) directly to the Bitcoin network, allowing developers to build decentralized applications on top of the world’s most secure blockchain. The project has raised significant capital during its ongoing presale, with tokens currently priced at $0.035. Early interest suggests a growing appetite for solutions that unlock Bitcoin’s capital efficiency.
Investors interested in the Layer-2 story can join the community on Telegram or follow updates on X.
Visit Bitcoin Hyper here
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
