Bitcoin Price Prediction – BTC Eyes $96,962 as Supply Tightens Further

Highlights:

• Bitcoin has pushed higher since breaching the $70,410 resistance
• Upside momentum now puts $96,962 in focus
• Low supply and price action in a major conflict could drive momentum 

Bitcoin continues the upside momentum that started last week. At the time of writing, Bitcoin was trading at $73,831, up by 3% in the last 24 hours. This is a slight drop after Bitcoin made an $1800 rally earlier in the day to hit a high of $74,300. Overall, momentum is strong and is most evident in Bitcoin’s trading volumes. 

Bitcoin trading volumes have shot up by 81.43% to stand at $38.42 billion. The rally in Bitcoin’s price is a reflection of the rising investor confidence in Bitcoin. Looking ahead, there is a good chance that Bitcoin could be headed higher, and that $80k could be an easy target in the short term. 

Bitcoin Rallies Despite Escalating Middle East Conflict

A key factor likely to drive this momentum is Bitcoin’s price action since the war started. If past conflicts are anything to go by, there was a strong expectation that the price of Bitcoin could drop when the war in Iran started. However, the opposite has been true.

Since the war started two weeks ago, Bitcoin has been overall up, with the broader cryptocurrency market adding $320 billion in value. The ongoing gains in a war scenario have created a positive impression for Bitcoin in two critical ways, both of which could see Bitcoin rally to new highs in the foreseeable future.

Since the US-Iran war started 15 days ago

S&P 500: -3.85%
Nasdaq: -3%
Gold: -5.5%
Silver: -13.22%

Bitcoin: 7.75%
The crypto market added $240 billion.

— Ash Crypto (@AshCrypto) March 15, 2026

The first one is the entrenchment of the long-held idea that BTC is digital gold. As digital gold, Bitcoin is supposed to hold on to value in times of crises. This time, it has done exactly that at a time when war is threatening supply chains and the global economy. This is likely to trigger an increase in investor allocations into Bitcoin as a hedge against risks in the future. The fact that Bitcoin is more geographically portable than Gold makes it even better since it can be moved around in case of a complete breakdown in global supply chains.

Silver down 13% while BTC up 7.75% is the chart of the decade. Silver got crushed by industrial demand fears from supply chain disruption. BTC is proving the "digital gold" thesis in real time — no physical supply chain to disrupt.

— Market Genius (@marketgeniusx) March 15, 2026

The second is the perception that the bottom is finally in and that the odds of a drop below $60k is now gone. That’s because making gains in a war situation means only holders with long-term conviction remain. It also means that the average short seller is afraid of a short squeeze and may be unwilling to bet against Bitcoin.

Bitcoin Exchange Reserves Hit Multi-Year Lows

The positive expectations around Bitcoin also come at a time when the Bitcoin supply is at record lows. Data shows that Bitcoin available for trading on exchanges is at its lowest since 2017. This is a big deal as it means the new money coming in is chasing an increasingly scarce asset. The result is that Bitcoin could be headed for a surprise parabolic price move that could send it to prices above $100k in a short time.

Bitcoin’s Float Is Drying Up

The real Bitcoin story is supply.

1.~2.7M BTC on exchanges
That is near the lowest level in years.

Less BTC on exchanges means less liquid float available to sell into new demand.

2.~1.1M BTC on public company balance sheets
That is already more… pic.twitter.com/ld739xRxDd

— David (@david_eng_mba) March 10, 2026

Technical Analysis – Bitcoin Price Pushes Higher After Break from Multi-Week Range

After pushing through range resistance at $70,410 on 13 March, Bitcoin has been pushing higher, an indicator that bulls are now firmly in control. If this momentum continues, Bitcoin could rally to $96,962, or even higher, in the short term. 

However, if upside momentum drops, Bitcoin could drop back to $70,410, which is now support. Of these two scenarios, the odds favour a rally to $96,962. That’s because of the declining exchange reserves and the fact that Bitcoin has proven to hold its value well in a major conflict.