Bitcoin sets a new high — end of the bear trend or temporary growth?

On March 17, 2026, the Bitcoin exchange rate reached a new local maximum, surpassing $75,000.

The price of Bitcoin reached a new high, significantly surpassing the $62,000 low recorded in early February. As a result, Bitcoin rose by more than 20%, boosting the mood in the cryptocurrency market once again. The market capitalization of Bitcoin approached $1.5 trillion.

This growth also affected the entire cryptocurrency market, increasing its overall capitalization by 9% to $2.54 trillion. The Fear and Greed Index* also returned to normal, rising from 8 points to 44, indicating a recovery of positive market sentiment.

Experts are divided over whether the Bitcoin local maximum signals the end of a bear market or the beginning of a trend reversal. Some believe the new maximum is just a phase within an ongoing bear market, while others suggest it could signal a market reversal.

Renowned analyst Willy Woo takes a cautious stance, asserting that despite the local maximum, Bitcoin is still within the confines of a bear market*. Meanwhile, experts from Santiment and other analysts note the activity of major players, who have started rapidly accumulating Bitcoin, which could indicate a positive reversal.

CryptoQuant analysts are also confident that the update of the maximum indicates the end of the cryptocurrency market's decline and the potential beginning of an upward trend. The Exchange Whale Ratio* (share of large transactions) indicator, which measures the activity of major players, reached a six-month high, which could be a sign of imminent growth.

However, there are more radical views. For instance, well-known trader Ran Neuner predicted the "end" of Bitcoin, linking it to the potential shift of large miners to the artificial intelligence sector, which offers much higher profitability with the same energy costs.

Specifically, Neuner emphasizes that for every megawatt of energy spent on mining cryptocurrency, such as Bitcoin, miners earn between $57 and $129, depending on market conditions.

In contrast, for data centers engaged in artificial intelligence, the same amount of power can yield significantly higher profits, ranging from $200 to $500. This sharp contrast in profitability is driving large miners to shift into more lucrative, technologically advanced sectors such as AI development and use.

This trend is already being observed: several large mining companies, such as Hut 8, have signed contracts with IT giants like Google to build AI infrastructure.

Several factors could have contributed to Bitcoin's growth. Experts link it to increased buyer activity and an influx of funds into Bitcoin-focused investment funds. Notably, in the last month, over 30,000 Bitcoins have been moved to cold wallets*, which indicates investors' intention to hold their assets for the long term.

Additionally, in March 2026, an important milestone was reached — more than 20 million Bitcoins are now in circulation out of the maximum 21 million. This event reminds investors of the scarcity of coins and the additional value of Bitcoin as a limited asset.

Another significant factor is the growing interest in cryptocurrencies amid the geopolitical situation. For instance, news of potential negotiations between Iran and the USA has sparked optimism among investors, prompting them to return capital to high-risk assets such as cryptocurrencies.

At the same time, the continuation of the Iran-USA conflict may exacerbate economic instability in traditional financial markets. In the context of geopolitical tensions, there is a risk of falling trust in fiat currencies*, which may lead to their devaluation. Historically, such events often serve as catalysts for the search for safe assets that are not dependent on political and economic instability in individual countries. Bitcoin, as an independent asset, could become an attractive alternative for investors looking to protect their capital from the devaluation of fiat currencies.

One of the drivers of growth has been news of potential improvements in cryptocurrency regulation. These include the US Treasury's recognition of the legality of using crypto mixers*, legislative initiatives to increase oversight of the cryptocurrency market, and preparations for the adoption of the Clarity Act, which aims to increase transparency in the stablecoin (stable cryptocurrency) market. These events create a more favorable environment for cryptocurrency investment and contribute to the recovery of interest in assets like Bitcoin.