Bitcoin Price Prediction – BTC Targets $96K After Bullish Breakout

Highlights:

• Bitcoin in a bullish breakout through the $70,410 resistance
• Breakout now puts $96,962 in focus
• Rising institutional demand is likely to drive momentum towards $96k

Bitcoin (BTC) is in the green today, sustaining the momentum it has built up over the last 48 hours. In this period, Bitcoin gained by 1.31% to trade at $72,554.27. In the same period, Bitcoin trading volumes have also shot up by 18.84% to stand at $68.22 billion. The rising volumes alongside the price indicate bullish sentiment in Bitcoin. Looking ahead, multiple factors could see Bitcoin make even more gains in the short to medium term. 

President Trump’s Backing of the Clarity Act Boosts Bitcoin

One of them is the political backing that cryptocurrencies are getting in the US. President Trump came to power riding on the wave of being a pro-cryptocurrency President. In his term so far, he has helped bring forth several laws and regulations that will positively impact the market long term.

However, the most important law that can trigger the real flow of capital into the cryptocurrency market is the Clarity Act. However, so far, the market structure bill has faced opposition from banks. Banks oppose stablecoins earning yield, as this would be a direct threat to their businesses. 

The good news is that President Trump has now thrown his weight behind the Market Structure Bill. In a post on social media, the President accused banks of stalling the bill. Such political pressure from the world’s most powerful figure could see the bill finally come to fruition. It is this expectation that is driving momentum into the cryptocurrency market and the rally that has pushed Bitcoin past the $70k mark. As FOMO builds up around progress on the Clarity Act, Bitcoin could retest its all-time highs and potentially make new ones in the foreseeable future.

President Trump is THE crypto President… He’s putting Big Banks on notice: get out of the way!

The time for a crypto regulatory framework is now. The Senate should get off their butts, get to work (skip the dog parades), and pass the Clarity Act! pic.twitter.com/p4sNgx4uZU

— David M. McIntosh (@DavidMMcintosh) March 3, 2026

BTC Targets $96K as ETF Inflows Show Strong Institutional Demand

Bitcoin is also benefiting from the fact that institutional demand through ETFs is starting to gain traction again. For months, Bitcoin ETFs have been recording outflows, a trend that has triggered a major market correction. However, things have changed so far in March.

Data shows that in the month-to-date, Bitcoin ETFs have recorded inflows of over $1.45 billion. Out of this, inflows of $225 million were recorded in a single day. Such institutional inflows positively impact the demand and supply of Bitcoin since it is a scarce asset. As more institutions jump onto the Bitcoin train, retail FOMO could also build, sending the price to new highs.

After 5 consecutive weeks of outflows, BTC ETFs have now flipped to 2 straight weeks of net inflows — with +$683M this week and over $1.1B in the past 3 days alone.

BTC is up 20% from its $60K cycle low (Feb 6), now trading at $72,189.

All 4 crypto spot ETFs are in the green… pic.twitter.com/ggkkYCev9T

— SoSoValue (@SoSoValueCrypto) March 5, 2026

Bitcoin Holding Up Well Despite Ongoing War

An important factor likely to trigger FOMO now that prices are rising is the war in the Middle East. The war was widely expected to negatively affect risk-on assets and hit cryptocurrencies particularly hard. However, US stocks are increasingly showing strength. Bitcoin is also doing much better than it did before the war. This has created the impression that geopolitical risk has been priced in, leaving only pure fundamentals. For Bitcoin, these fundamentals are getting better thanks to improving regulations and rising institutional demand. 

Technical Analysis – Bitcoin In a Breakout From Multi-Week Consolidation

Since February, Bitcoin has been consolidating between the $70,410 resistance and $62,618 support. However, in the last 24 hours, bulls have taken control and pushed the price through the $70,410 resistance, with high volumes. 

On the other hand, if bears regain control and push Bitcoin back below $70,410, then the consolidation could continue. Of these scenarios, the odds are higher that BTC targets $96K as institutional demand continues rising through Bitcoin ETFs.