Bitcoin Keeps Above $74K on Geopolitical, Policy Concerns

Key Moments

Bitcoin Price Action and Market Drivers

Bitcoin traded steadily above $74,000 on Tuesday, easing back after a sharp intraday advance that briefly brought it close to $76,000. The world’s largest cryptocurrency was last up 1% at $74,215 by 10:45 ET (14:45 GMT), having reached an intraday high of $75,991.2 over the previous 24 hours.

Early gains were fueled by short covering, as traders reversed bearish positions that had been established during the sell-off seen in early February. That unwind helped push prices higher, but the upward momentum tapered off through the session, leaving Bitcoin trading close to flat on the day.

Institutional participation and consistent inflows into spot Bitcoin exchange-traded funds continued to lend support to the market, even as intraday volatility persisted.

Technical Backdrop and Trading Pattern

Market participants have been watching Bitcoin’s attempts to extend its rally through March. According to Axel Rudolph, market analyst at IG, “Despite the rebound, Bitcoin’s trajectory through March has not been entirely smooth. Each rally attempt has encountered selling pressure near previously established resistance zones as traders lock in profits after rapid gains.”

He added, “This has produced a pattern of advances followed by consolidation phases as the market searches for a clearer directional trend.”

Geopolitics, Oil, and Inflation Concerns

Macroeconomic and geopolitical risks remained central to trading decisions. The ongoing conflict involving the U.S., Israel, and Iran entered its third week, keeping overall risk appetite fragile in global markets.

Oil prices, which had slipped overnight, bounced back on Tuesday and stayed above $100 per barrel. Traders focused on the possibility of supply disruptions through the Strait of Hormuz, a scenario that has kept energy markets on edge.

Persistently high energy prices have intensified worries about sustained inflation, shaping positioning across multiple asset classes, including cryptocurrencies. As IG’s Rudolph noted, “While heightened global tensions initially triggered risk-off selling, the cryptocurrency later began trading more like a defensive asset as the situation evolved.”

Central Bank Decisions in Focus

Attention now turns to monetary policy, with investors awaiting the Federal Reserve’s upcoming rate decision on Wednesday. The Fed is widely expected to leave interest rates unchanged, but market participants are closely monitoring commentary on inflation risks and the broader outlook.

In addition to the Fed meeting, a series of other global central bank decisions is scheduled over the course of the week, adding another layer of uncertainty and potential catalysts for asset prices.

Mastercard Moves Deeper Into Stablecoins With BVNK Deal

In corporate developments tied to digital assets, Mastercard announced on Tuesday that it has agreed to acquire BVNK, a stablecoin payments infrastructure provider, in a deal valued at up to $1.8 billion. The acquisition is aimed at expanding Mastercard’s capabilities in blockchain-based transactions.

The transaction structure includes up to $300 million in contingent payments and is expected to close before the end of 2026.

Mastercard’s move comes as regulatory clarity and growing use of stablecoins encourage major card networks to diversify beyond traditional payment rails and into faster, lower-cost digital transfer systems. Both Mastercard and Visa are positioning themselves for early advantage in this rapidly developing area.

BVNK offers infrastructure that links fiat currencies with stablecoins and facilitates payments across major blockchain networks in more than 130 countries. The deal is intended to bolster use cases such as cross-border remittances, corporate payments, and payouts using digital tokens.

Altcoin Market Snapshot

Trading in major altcoins was relatively subdued compared with Bitcoin’s earlier spike. Below is a summary of key moves across leading cryptocurrencies: