TechFlow News: On March 17, according to CoinDesk, the cryptocurrency market cooled off on Tuesday following a sharp rebound on Monday. Bitcoin (BTC) briefly reached approximately $76,000—its highest level since February 4—before retreating below $73,500, posting a roughly 1.5% decline over the past 24 hours.
Technically, BTC’s Relative Strength Index (RSI) remains in overbought territory, and the market anticipates further pullback toward the $72,000 level for support. If BTC stabilizes within the $72,000–$74,000 range, it could establish a new support zone, potentially laying the groundwork for a subsequent push above $80,000. Prior to this, BTC had risen over 15% from its March 8 low of $65,000.
In the derivatives market, BTC futures open interest (OI) increased by 2% to a three-week high of 685,200 BTC; the Cumulative Volume Delta (CVD) remains positive, indicating bullish sentiment. Ethereum (ETH) futures likewise show similar bullish signals. In the options market, BTC put option premiums are higher than those for ETH, suggesting relatively stronger bearish sentiment among BTC traders.
