March 5 News: Bitcoin (BTC) has regained its upward momentum after a week of geopolitical volatility, supported by approximately $155 million in daily net inflows into spot Bitcoin ETFs. According to SoSoValue data, this round of capital inflows has reversed the earlier outflow trend seen earlier this week, indicating that institutional buyers are gradually returning to the market.
Tensions in the Middle East previously put pressure on risk assets, causing Bitcoin prices to dip to the $60,000 to $65,000 range. However, with ETF capital returning and short covering, Bitcoin has rebounded above $72,000. Market reports point out that ETF demand and short squeeze are key drivers behind Bitcoin’s recent rally.
From a technical perspective, the daily chart shows Bitcoin trading around $72,500, challenging resistance zones between $73,000 and $75,000. If this resistance is broken, Bitcoin could test the psychological $80,000 level in the coming weeks. Support levels are around $69,000, followed by the $65,000 zone, which served as entry points during previous pullbacks.
Momentum indicators also show signs of improvement. The Accumulation/Distribution line indicates renewed buying pressure, and the Bull-Bear Power (BBP) indicator has turned positive, suggesting that after weeks of selling pressure, a bullish trend may be returning. Analysts note that if ETF inflows continue and macro risks remain stable, Bitcoin’s rebound could persist. However, if it fails to hold the $70,000 level, the price may enter a consolidation phase before the next major rally.
Overall, institutional capital inflows, improving market sentiment, and positive technical signals support a short-term Bitcoin rebound. Investors should watch key resistance levels to determine whether the next bull market reversal will further ignite the market.
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