Bitcoin climbs to $71K as crude tumbles on possible global oil reserve release
Bitcoin climbs toward $71K as oil tumbles 11% on possible IEA oil reserve release, lifting crypto markets and equities.
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Bitcoin could be on track for a massive long-term rally if one of the most interesting valuation models in the crypto industry is still valid.
March 10, 2026, 5:30 pmBitcoin climbed back above $70,000 Tuesday as crude oil staged a sharp reversal, easing near-term fears of accelerating inflation and giving digital asset markets room to recover. According to CryptoSlate's data, the largest digital currency jumped over 5% in the last 24 hours, peaking at around $71,164 after slipping below $68,000 earlier in the session.
March 10, 2026, 5:15 pmBitcoin climbs toward $71K as oil tumbles 11% on possible IEA oil reserve release, lifting crypto markets and equities.
Crypto analyst Merlijn has revealed that Bitcoin has just re-entered the DCA zone, indicating it’s a good time to buy BTC. The leading crypto is already staging another rebound, rising to the psychological $70,000, which has so far proved to be a major resistance level.
The International Energy Agency (IEA) on Tuesday said it will convene an extraordinary meeting of its member countries to consider releasing emergency oil reserves.
Bitcoin miner Canaan boosted its BTC and ETH reserves to record levels in February, expanding its Texas operations even as many public mining firms reduce holdings.
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Bitcoin ETFs opened the week with renewed momentum, pulling in $167 million in fresh capital. However, ether, XRP, and solana ETFs moved in the opposite direction, posting net outflows.
$30. That’s how much the price of oil moved in a single day yesterday, opening the day at around $85 to reach a high of $115 before crashing back to $85 within hours. This move was one of the most volatile swings in crude since 2020.
Bitcoin is trading at $70,426 per unit on March 10, 2026, after rebounding from an intraday low of $67,958 and briefly testing a session high of $71,220. The cryptocurrency’s market capitalization stood at $1.408 trillion with $54.48 billion in 24-hour trading volume as price action stabilized within a well-defined intraday range.