Analysis: Bitcoin strengthening alongside the US dollar draws market attention; macro indicators may be a key catalyst

SmartContractAuditor · 2026-03-05T13:18:58+00:00

Bitcoin recently rebounded to nearly $74,000, an increase of over 10%. This rally occurred against the backdrop of declining risk appetite in global stock markets and a strengthening US dollar. US investor demand has increased, with Coinbase premium index reaching its highest level since last year. The market is watching whether Bitcoin can break through a key resistance zone. Meanwhile, traders are focused on the upcoming US employment and CPI data releases. The Middle East conflict remains uncertain.

SmartContractAuditor

2026-03-05 13:18:58

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Odaily Planet Daily reports that Bitcoin has recently been on a sustained rebound, approaching the $74,000 mark, with a total increase of over 10% since the outbreak of Middle East conflicts. Notably, this rally occurs amid a decline in global stock market risk appetite and a strengthening US dollar. The US Dollar Index (DXY) has risen over 1% this week and reached 99.68 on Wednesday, the highest since November last year. Historically, Bitcoin has often shown a negative correlation with the dollar, but since Trump’s victory in the 2024 election and his pro-cryptocurrency policies, the two have frequently moved in tandem.

In terms of capital flows, US investor demand has increased. Data shows that the Coinbase Premium Index, which measures the spread between US exchange prices and offshore markets, has risen to 0.0227%, the highest since December last year, typically seen as a sign of increased US capital inflows. The market is currently focused on whether Bitcoin can effectively break through the key resistance zone around $74,000. If a breakout occurs, it could further boost investor confidence and attract more funds.

On the macro front, traders are paying close attention to upcoming US employment report for February (March 6), CPI data (March 11), and the Federal Reserve’s policy meeting scheduled for March 17-18. These events could serve as significant catalysts for volatility in risk assets worldwide, including the crypto market. Some analysts also warn that the situation in the Middle East remains uncertain; if the conflict escalates, it could again disrupt market sentiment. (CoinDesk)

BTC-2.96%

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