Bitcoin Rockets Past $70K-Bears Panic, FOMO Parties, And Trump Weighs In

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After five months of financial gloom that made gloomy cats look cheerful, Bitcoin decided it was time to dust itself off and try walking again. Traders, ever optimistic in the face of impending doom, now believe the bears might actually have to put on pants and face the music.

Market Notices Bitcoin’s Dramatic Hair-of-the-Dog Recovery

On Tuesday, Bitcoin waltzed back above $70,000, sending social media into a frenzy Santiment whimsically calls “FOMO territory.” It’s the sort of excitement usually reserved for finding a forgotten donut in your pocket.

Chats across the social networks plunged Monday, then rebounded so sharply you could almost hear the market whisper, “I told you I’d come back.”

According to Santiment, crypto moves fast during uncertainty-probably faster than anyone realizing their dog has learned to drive the car-because it’s awake 24/7 and doesn’t take orders from any government or central bank.

The recovery got an extra boost from former US President Donald Trump, who hinted that the conflict with Iran was “very complete, pretty much”-a phrase so ambiguous it could mean anything from “we’re done” to “we ate all the donuts.”

Oil prices tumbled in response, giving crypto traders something to nod knowingly about while drinking their morning coffee.

Of course, no Trump statement is complete without a post on Truth Social, warning of military pressure if oil supplies misbehave. Nothing says “market stability” like a dash of geopolitical uncertainty.

Bitcoin sentiment has jumped back into FOMO territory after its market value exceeded $70K Tuesday. Across X, Reddit, Telegram, and other crypto-related discussions, the crowd is encouraged by Trump’s comments that the war may soon end, and oil prices reversing course.

– Santiment (@santimentfeed) March 10, 2026

The mixed messages didn’t halt the Bitcoin party, but they did sprinkle a bit of uncertainty on top-like adding anchovies to your otherwise celebratory pizza.

Big Buys From Strategy Make the Rockets Hotter

Ryan McMillin of Merkle Tree Capital noted that geopolitics wasn’t the only puppeteer tugging at the market strings. Institutional buying, particularly by a mysterious entity called Strategy, purchased nearly 18,000 Bitcoins last week, then went back for seconds. Apparently, Bitcoin tastes better when you buy in bulk.

Holding above February lows also helped. From a staggering $126,000 peak in October, Bitcoin had been slowly limping downhill like a dragon with a stubbed toe. Five months of declines left it bruised, battered, and ready to spring back.

McMillin explained that a market battered and forlorn often produces a relief rally, even without divine intervention. “Shorts are vulnerable,” he warned. “Liquidity on the short side might get squeezed toward $80,000 before the market remembers it has choices.”

He also pointed to cooling inflation, a new Fed chair on the horizon, and the Clarity Act inching closer to reality as breezes that could lift Bitcoin higher-like a hot air balloon piloted by a caffeinated wizard.

Extreme Fear Still Rules, Because Someone Has to

Not everyone is reading the tea leaves the same way. The Crypto Fear & Greed Index, the market’s own mood ring, sat at 15 on Wednesday-deep in “extreme fear” territory, which is apparently the crypto equivalent of a cat staring at an empty cardboard box and wondering if it contains doom.

Google Trends for “Bitcoin” stood at 71, down from 100 earlier in the week, suggesting that retail interest has cooled-probably because the average person prefers donuts to digital gold, even in a FOMO frenzy.

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2026-03-12 04:15