Bitcoin targets $74,000, while the dollar experiences an unexpected increase.

Your day-ahead look for March 5, 2026

(Midjourney/Modified by CoinDesk)

What to know:

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By Omkar Godbole (All times ET unless stated otherwise)

Bitcoin BTC$72,786.79 is experiencing an upswing alongside the U.S. dollar, a trend that has emerged multiple times since President Donald Trump’s victory in the 2024 election.

The digital currency has surged over 10% since the onset of conflict in the Middle East over the past weekend. Prices nearly approached the $74,000 mark at one point yesterday and have risen over 2% in the last 24 hours. The CoinDesk 20 Index and significant tokens such as ether (ETH), XRP (XRP), and solana (SOL) increased by 2% or more.

For bullish investors, this rally is significant not only for its size but also for the context: It is occurring amidst a risk-averse sentiment in global equities and in conjunction with a strengthening dollar. The Dollar Index (DXY) has appreciated by over 1% this week, reaching a peak of 99.68 on Wednesday, a level last recorded in November.

This scenario may confuse many market observers. Typically, a stronger dollar impacts dollar-denominated assets like bitcoin negatively, and historically the two have generally moved in opposing directions.

However, this inverse relationship has been consistently tested since Trump resumed office with promises of pro-crypto policies. Both BTC and the DXY experienced gains leading up to and following the election, both declined in March-April 2025, and now both are on the rise again.

In the interim, demand for BTC from the U.S. seems to be increasing, which is a positive indicator for the market. The Coinbase Premium index — which tracks the price difference between the Nasdaq-listed exchange and the offshore giant Binance — climbed to 0.0227% today, the highest level since December, according to data provider Coinglass. A premium on Coinbase generally indicates stronger demand from American investors.

The current focus is on whether the cryptocurrency can break through the historical critical zone around $74,000. A decisive breakout could enhance investor confidence and attract more buyers into the market.

Some traders are also monitoring the U.S. macroeconomic landscape.

"The US Employment Situation report for February is slated for March 6, followed by CPI on March 11, and the next FOMC meeting on March 17-18," Vikram Subburaj, CEO of Indian exchange Giottus.com mentioned in an email. "All these events are potential catalysts for volatility in global risk assets, including crypto."

Other macro analysts remain cautious, pointing out that the current stability associated with the U.S. assurance to escort and insure oil tankers may be tenuous.

"It only takes one Iranian missile for this delicate balance to shift into serious disruption. The risk of an Iranian projectile causing damage remains tangible and this is not something that can be resolved quickly," economist Robin Brooks noted in a blog post. Remain vigilant!

Read more: For insights on today’s movements in altcoins and derivatives, check out Crypto Markets Today

What to Watch

For a more extensive list of events this week, refer to CoinDesk’s "Crypto Week Ahead".

• Crypto
  • No events scheduled.
• Macro
  • March 5, 8:30 a.m.: U.S. initial jobless claims for week ending Feb. 28 (Prev. 212K)
  • March 5, 8:30 a.m.: U.S. nonfarm productivity QoQ preliminary for Q4 (Prev. 4.9%)
  • March 5, 4:30 p.m.: U.S. Fed balance sheet update for period ending March 4
• Earnings (Estimates based on FactSet data)
  • March 5: Rumble (RUM), post-market, -$0.10

Token Events

For a more extensive list of events this week, refer to CoinDesk’s "Crypto Week Ahead".

• Governance votes & calls
  • Uniswap DAO is voting on two linked proposals to expand v2 and v3 protocol fees to eight L2 networks and implement a new tiered fee system across all v3 pools. Voting concludes on March 5.
  • Gnosis DAO is voting to provide a grant to support the ongoing maintenance, infrastructure, and development of the Revoke.cash security platform. Voting ends on March 5.
• Unlocks
  • March 5: Ethena (ENA) will unlock 2.24% of its circulating supply valued at $18.35 million.
• Token Launches
  • March 5: WhiteBit Token (WBT) will be listed on Kraken.
  • March 5: Limitless (LMTS) is set to be listed on Coinbase.
  • March 5: Opinion (OPN) will be listed on Binance, BitMart, BingX, MEXC, and others.

Conferences

For a more extensive list of events this week, refer to CoinDesk’s "Crypto Week Ahead".

• Day 2 of 3: Quant 2026 (Varese, Italy)

Market Movements

• BTC has decreased by 0.13% from 4 p.m. ET Wednesday, priced at $72,849.18 (24hrs: +2.42%)
• ETH has fallen 1.08% to $2,135.84 (24hrs: +3.81%)
• CoinDesk 20 is down 1.25% at 2,072.03 (24hrs: +2.75%)
• Ether CESR Composite Staking Rate is up 6 bps at 2.91%
• BTC funding rate is at 0.0026% (2.8744% annualized) on Binance