High-Stakes March for Bitcoin: $120K Predictions Confront $60K–$70K Accumulation Efforts

The outlook for Bitcoin in March is distinguishing between bullish and bearish sentiments. After enduring a prolonged high-stakes consolidation phase that reached a low of $62,900 last week, Bitcoin has returned to trading above $66,000 at the time of this report.

Although the price action appears sluggish following a 22% drop compared to the same period last year, macro analysts are anticipating a significant repricing event that could propel the asset upward before the month concludes.

Key Takeaways:

• Macro economist Henrik Zeberg envisions a primary scenario in which Bitcoin surges to $110,000–$120,000 in March, driven by ETF inflows and a risk-on sentiment.
• A volatility flush to $62,920 initiated a substantial short squeeze, resetting funding rates and eliminating over-leveraged positions.
• On-chain metrics indicate that the current trading range of $60,000–$70,000 falls within a historical accumulation zone, despite ongoing market fears.

Bitcoin ETF Inflows Indicate $110K–$120K: But Will It Endure?

In spite of the recent fluctuations, the institutional perspective remains strongly bullish. Macro economist Henrik Zeberg has reaffirmed a Bitcoin price forecast that anticipates the asset nearly doubling in a matter of weeks.

Portfolio Target Analysis – March 2026
Fundamental Perspectives to the Outlook and Targets of the Portfolio.
My Core Hypothesis
Bitcoin rallies to $110–120K in the primary scenario – fueled by Risk-On Fever, ETF inflows, and continued institutional adoption. There is a…

— Henrik Zeberg (@HenrikZeberg) March 1, 2026

On March 1, Zeberg detailed a “primary scenario” aiming for $110,000 to $120,000, which represents an 80% increase from the recent lows around $66,000.

Bitcoin rallies to $110–120K in the primary scenario – fueled by Risk-On Fever, ETF inflows, and continued institutional adoption.

— Henrik Zeberg (@HenrikZeberg) March 1, 2026

Zeberg attributes this potential increase to “Risk-On Fever” and persistent ETF demand. He even assigns a 25% likelihood to an overshoot scenario reaching $140,000 to $150,000.

This perspective aligns with insights from Bernstein analysts led by Gautam Chhugani, who contend that the market is experiencing the “weakest bear case” in history due to banking adoption and pro-crypto policies established during the Trump administration.

Institutional infrastructure is swiftly adapting to these projections. For example, Morgan Stanley’s application for a national trust charter to manage clients’ crypto indicates that major players are preparing for a long-term hold, thereby reducing the available floating supply on exchanges.

If these inflows maintain their current momentum, the supply shock could validate Zeberg’s $120,000 target sooner than anticipated by the derivatives market.

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Bitcoin $62.9K Short Squeeze, and Why March is Crucial

The journey to these highs, however, is marked by volatility. Bitcoin fell to $62,920 early last week on February 24. This dip breached the ascending support line, ensnaring late bears who anticipated a drop to $50,000.

What ensued was a classic BTC short squeeze. As the price reclaimed $65,000, short positions were compelled to cover, pushing the asset back above $69,000 the following day.

This flush reflects the market dynamics observed recently, where Bitcoin rebounded after sudden geopolitical events erased $5K in 24 hours, demonstrating the market’s resilience at these levels.

The RSI on the daily chart has reset from overbought conditions to a neutral 41, indicating that the market has potential for further movement if buying pressure returns.

Is Bitcoin’s March to $120k Feasible?

CoinMarketCap’s Fear & Greed Index is currently positioned at “Extreme Fear” (15/100), a typical contrarian indicator that frequently signifies local bottoms.

The divergence is evident: weaker hands are selling the dip, while savvy investors view the $60K floor as an opportunity. Key historical patterns suggest that post-halving corrections often conclude with this type of grinding consolidation before the markup phase resumes.

The market is now situated between two pivotal levels. The immediate resistance is at $72,000. A decisive break above this level would confirm the end of the correction and pave the way to Zeberg’s $110,000 target.

Nonetheless, risks persist. If Bitcoin fails to maintain the $60,000 support, the structural integrity weakens considerably. Skeptical voices like Jimmy Wales have famously questioned the asset’s long-term viability, and warnings that BTC could plummet below $10k continue to circulate during downturns, although they appear increasingly disconnected from the current institutional landscape.

Nevertheless, the odds may still favor the bulls. The combination of favorable political developments from the anticipated passing of CLARITY, ETF inflows, and a completed leverage flush creates a conducive environment for upward movement.

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