March 4 News: Bitcoin prices have recently rebounded significantly, approaching the $70,000 mark during intraday trading, and currently staying around $68,000. Market data shows that this rally is related to institutional capital inflows and short covering, but overall trading sentiment remains cautious.
Market maker Enflux pointed out in its latest report that this rebound is mainly due to trading position adjustments rather than a clear bullish consensus in the market. Previously, geopolitical tensions in the Middle East triggered risk aversion, leading many traders to establish short positions, with Bitcoin dropping to about $63,000. When the conflict did not quickly escalate into a full-scale regional war affecting Gulf trade routes, some shorts began to close, pushing prices higher rapidly.
Enflux believes that cryptocurrencies tend to react faster than traditional financial markets to geopolitical events. When global uncertainty increases, Bitcoin is often seen as a “pressure release valve” for capital flows, resulting in more volatile short-term fluctuations.
Institutional funds remain a key support for the market. Data shows that over the past five trading days, Bitcoin spot ETF net inflows totaled approximately $1.45 billion, providing crucial liquidity support for prices. Meanwhile, on-chain data also indicates signs of renewed spot demand.
Blockchain data firm Glassnode noted that Bitcoin’s momentum indicators are beginning to recover from previous weakness. The Relative Strength Index (RSI) has risen from about 36 to 41, although still below the bullish threshold of 50, signaling some technical improvement.
Spot trading activity has also increased. Data shows Bitcoin spot trading volume rose from about $6.6 billion last week to approximately $9.6 billion, with buy and sell orders gradually balancing out, indicating that selling pressure is easing.
However, the derivatives market remains cautious. Glassnode states that leveraged long positions have seen a significant decrease in holding costs, and the futures market still shows a slight dominance of sellers, suggesting high-leverage traders have not fully turned optimistic.
Market forecasts also reflect similar trends. The probability of Bitcoin falling below $65,000 and $60,000 in the short term has decreased, but most traders have not yet priced in a strong breakout above $80,000. Overall, Bitcoin has gained temporary stability supported by improved institutional funding and spot demand, but market confidence is still in the process of recovery.
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
Trump Establishes Strait of Hormuz Alliance, Bitcoin Surges Past $74,000
Affected by geopolitical news, Bitcoin rose during Asian trading hours, reaching a high of $74,309, with the market focusing on the $74,000 breakthrough. Trump's plan to form a multinational coalition to address Iranian oil exports may drive Bitcoin further higher. Since the conflict, BTC price has rebounded 11%.
GateNews8m ago
BTC 15-minute decline of 0.67%: Exchange net inflows increase and futures long liquidation resonance intensifies volatility
On 2026-03-16 06:00 to 06:15 (UTC), BTC experienced a short-term decline with a 15-minute return rate of -0.67%, price range between 73610.0 and 74204.0 USDT, with a volatility amplitude of 0.80%. This price movement drew market attention; while the fluctuation magnitude is at typical Bitcoin levels, it has received high discussion volume given the recent stable market conditions.
The main driver of this price movement was a slight increase in BTC net inflows on mainstream trading platforms, with some coin holders transferring assets to exchanges during this period, combined with long position stop-losses and active position reduction in the futures market, which triggered
GateNews23m ago
Adam Back Warns BIP-110 Proposal May Suppress Bitcoin's Upgrade Capabilities
Bitcoin Improvement Proposal BIP-110 discussions are heating up. The proposal aims to clean up on-chain data but has sparked controversy. It would disable important opcodes and limit control block sizes, potentially impacting future technological development. Despite being positioned as a temporary measure, long-term upgrade restrictions could pose risks.
GateNews23m ago
Michael Saylor Hints at Another Strategy Bitcoin Buy as Crypto Leaders Reject Boris Johnson's 'Ponzi' Claim
Strategy co-founder Michael Saylor hinted on March 15, 2026, at another potential Bitcoin purchase by the company, posting "Stretch the Orange Dots" on X in a recurring pattern that has preceded 11 previous acquisition announcements in 2026.
CryptopulseElite56m ago
