Summary: Multiple institutions increase their crypto holdings, and analysts are simultaneously turning bullish

Crypto Mars News: On March 4th, following yesterday’s net inflow of $225.2 million into the US Bitcoin spot ETF, Bitcoin led a strong rebound in the crypto market today. The total open interest across all contracts recently hit the largest single-day increase since July of last year. Several institutions also increased their crypto holdings, including: Ark Invest adding to positions in COIN and HOOD during dips; BlackRock ETF withdrawing a net of 3,809 Bitcoins over the past 20 hours; Gamma Fund buying the dip with 9,000 ETH at an average price of $1,984. Along with institutional buying, multiple analysts are also bullish on the crypto market: On-chain data analyst Murphy said the market confidence index has hit “extreme negative values,” with investor confidence in Bitcoin’s trend nearly collapsing. Additionally, the short-term Bitcoin signal “BRS” has started to turn after a month, shifting from a long-held “buy” point to a “sell” point. Crypto market analysis firm Santiment noted that discussions about the “altcoin season” on social media have dropped to a freezing point. However, historical experience shows that when interest in altcoins hits extreme lows, it often signals the eve of a rebound.