ChainCatcher News: Bitcoin surged to around $71,000 during the U.S. trading session on Wednesday before pulling back. On Thursday during Asian hours, it was around $68,600, failing to hold above a key round number. Since the end of February, BTC has mostly traded within a range, having dipped to $62,500 earlier this month and reaching a high of $71,100 on February 15.
Market analysts note that in January, Bitcoin briefly broke above a similar trading range but then quickly fell from $98,000 to $60,000. During this downward cycle, it formed lower highs, causing some traders to remain cautious about the sustainability of recent breakouts. Derivatives data shows that open interest (OI) in crypto futures has increased by over 6.6%, approaching $100 billion, outpacing overall market cap growth and indicating new capital inflows.
In the options market, Deribit data shows that Bitcoin’s rebound has increased demand for call options with strike prices between $85,000 and $90,000. However, the overall options structure remains skewed toward downside protection, with $60,000 put options being the most popular, with open interest exceeding $1.4 billion, suggesting market participants still harbor some downside risk concerns.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Yesterday, the US Bitcoin spot ETF saw a net inflow of $461.9 million, with total inflows over the past three days exceeding $1.1 billion.
BlockBeats News, March 5th, according to Farside monitoring, yesterday the US Bitcoin spot ETF recorded a net inflow of $461.9 million, marking the third consecutive day of net inflows, with a total of over $1.1 billion in funds flowing in over three days.
Yesterday, BlackRock IBIT had a net inflow of $306 million, and Fidelity FBTC had a net inflow of $48 million.
GateNews1h ago
AI Agents Prefer Bitcoin Over Fiat, New Study Finds
A Bitcoin Policy Institute study delves into how artificial intelligence models choose among money forms in a variety of hypothetical scenarios, revealing a strong inclination toward Bitcoin and digital money over fiat in most cases. The research tested 36 models across six providers and generated m
CryptoBreaking1h ago
Arthur Hayes: BTC has not yet decoupled from American SaaS technology companies and may only be a short-term rebound
Odaily Planet Daily reports that Arthur Hayes posted on the X platform stating that BTC (white) has not yet decoupled from the US SaaS technology company (green). This may just be a short-term rebound, and it has not yet moved out of the danger zone. Patience is required.
GateNews2h ago
The top account in Coincoin's real trading profits is currently long on $30.31 million worth of ETH and BTC.
According to on-chain analysts monitoring, the well-known account "Old Demon" is long on $30.31 million worth of ETH and BTC, with a total profit of 86.6 million RMB, a historical win rate of 50%, and a total return of 3698%.
GateNews2h ago
