Why Did Bitcoin Rise Today? Weekly Close Reclaims 70K, Crypto Czar Sends Anti-War Signal

Bitcoin continued its upward momentum on Sunday, closing the week above $70,000 and marking the highest weekly close since March 4th. The primary catalyst behind this rally is the anti-war statement made by White House AI and crypto advisor David Sacks during the March 14th “All-In Podcast”—where he called for the U.S. to “declare victory and exit” the war with Iran.

Crypto King Opposes War: Why Sacks Stands Against the Iran Conflict

Sacks’ anti-war stance is not purely ideological but a direct defense of his policy agenda. The war threatens the entire tech and cryptocurrency ecosystem he is responsible for building.

On March 11th, Iran’s Islamic Revolutionary Guard Corps released a list of approximately 30 U.S. tech companies as “legitimate targets,” including Amazon, Google, Microsoft, NVIDIA, IBM, Oracle, and Palantir, declaring that the conflict has shifted to an “infrastructure war.” In the first week of the conflict, Iranian forces attacked AWS data centers in the UAE and Bahrain, causing regional cloud service outages.

For Sacks, a prolonged war would not only undermine the legislation he is promoting, such as the “Genius Act,” and the structure of the crypto market, but also destabilize the political unity within the “Make America Great Again” coalition—an essential political condition for these regulatory frameworks to be implemented.

Technical Analysis: Key Support Above $70,000

(Source: TradingView)

From a technical perspective, Bitcoin’s rise today is supported by clear structural levels:

• 200-week Exponential Moving Average (EMA): At $68,300, Bitcoin remains above this level, indicating the long-term trend remains intact.
• 2021 All-Time High: At $69,400, this level continues to serve as support.
• Seventh consecutive trading day of gains: Demonstrating sustainable accumulation momentum rather than a short-term emotional rebound.
• CME Futures Gap: The $71,325 gap predicted by Van de Poppe has been successfully filled, technically clearing short-term resistance.

Crypto analyst Michaël van de Poppe explained last Friday’s pullback on X: “That dip was essentially driven by risk aversion, as investors wanted to exit positions before the weekend. Nothing else.” He expects Bitcoin to continue a slow upward trend, with the next resistance zone between $75,000 and $80,000.

Market Outlook: Cryptocurrency as a Real-Time Indicator of War

(Source: Glassnode)

This conflict has also profoundly changed the positioning of cryptocurrencies in the global markets. On the Hyperliquid platform, the daily trading volume of oil-linked perpetual futures has reached $1.7 billion, about 250 times pre-war levels—making crypto the only liquidity venue for energy speculation when traditional markets are closed on weekends.

Spot Bitcoin ETFs saw approximately $1.3 billion in net inflows in March, indicating institutional funds are not retreating due to geopolitical risks but are instead seizing buy opportunities as Iran tensions ease.

Analyst Kyle Doops identified Bitcoin’s medium-term trading framework: key support is around a total realized price of about $54,400, while the true market average is approximately $78,400, representing the core resistance zone above. He also warned, “Every time the price breaks above $70,000, sellers appear—not out of panic selling, but steady profit-taking.”