TLDR
- Jan van Eck, CEO of VanEck, believes Bitcoin has reached a bottom point as the halving cycle’s fourth year approaches its end in 2026.
- Bitcoin currently trades around $68,000, showing a 2.6% increase over 24 hours and climbing 7.6% across the week.
- Spot Bitcoin ETFs in the United States recorded $458 million in inflows during a single trading session, marking one of Q1’s strongest performances.
- Middle Eastern geopolitical instability involving the U.S., Israel, and Iran continues to create market volatility, though institutional buyers remain confident.
- Despite recent gains, BTC remains 22% lower year-to-date and over 40% beneath its October peak.
As of March 3, 2026, Bitcoin is changing hands near the $68,000 mark, representing approximately a 2.6% gain over the last 24-hour period.
Bitcoin (BTC) PriceDespite this uptick, the leading cryptocurrency has declined 22% since the year began and sits more than 40% below the record high it achieved in October 2025.
During a Monday interview with CNBC, VanEck’s CEO Jan van Eck shared his perspective that Bitcoin is currently establishing a market bottom.
Van Eck attributed the ongoing bear market to Bitcoin’s predictable four-year halving pattern rather than any deterioration in the cryptocurrency’s underlying value proposition.
He emphasized that Bitcoin’s fixed maximum supply of 21 million coins, combined with the halving mechanism that cuts miner rewards by 50% every four years, creates an inherent cyclical pricing pattern.
Van Eck further noted that BTC’s recent price stabilization might be partially connected to escalating Middle Eastern conflicts following coordinated U.S. and Israeli military operations against Iran, and subsequent Iranian retaliation against Israel.
He proposed that cryptocurrency payment infrastructure could function as an alternative method for transferring capital outside conventional banking systems in areas experiencing conflict, highlighting the UAE and Dubai as case studies.
ETF Inflows Remain Robust Amid Geopolitical Turmoil
According to SoSoValue data, U.S. spot Bitcoin ETFs attracted approximately $458 million on Tuesday, representing one of the quarter’s most impressive single-day performances.
Across three consecutive trading days last week, these investment vehicles accumulated $1.1 billion in combined inflows. BlackRock’s IBIT product captured roughly 50% of this capital influx.
Singapore-based QCP Capital reported that weekend geopolitical developments triggered approximately $300 million in long position liquidations, characterizing the impact as “contained.”
The options market experienced a brief surge in one-day implied volatility reaching 93% before retreating, which QCP interpreted as traders implementing protective measures against event-driven risk rather than anticipating extended turmoil.
BTC Continues Struggling Below $70,000 Threshold
Bitcoin has predominantly oscillated within a $60,000 to $70,000 range throughout February. The cryptocurrency reached $69,213 on Monday but couldn’t pierce the $70,000 resistance level that has remained elusive since late January.
At 01:25 ET Tuesday, the digital asset was valued at $67,884, reflecting a 2.5% daily increase.
Market observers note that investor risk appetite remains cautious as Middle Eastern military operations persist, with government officials in the U.S., Israel, and Iran showing minimal willingness to pursue de-escalation.
At the time of publication, Bitcoin is trading at $68,153 based on CoinGecko market data.
The post VanEck CEO Declares Bitcoin Bottom Formation as BTC Hovers Around $68K appeared first on Blockonomi.
Source: https://blockonomi.com/vaneck-ceo-declares-bitcoin-bottom-formation-as-btc-hovers-around-68k/
