Between 08:30 and 08:45 (UTC) on March 4, 2026, BTC recorded a +0.83% return, with a price range of 69,305.8 to 69,914.2 USDT, and an amplitude of 0.88%. In a short period, market attention significantly increased, trading volume expanded compared to usual, reflecting rapid capital flow and heightened volatility.
The main drivers of this movement were partial short covering and concentrated liquidation of leveraged positions. Previously, after BTC tested a key support level, short positions were forced to cover and buy, pushing the price higher. Meanwhile, on-chain large transfers and average transaction amounts increased noticeably, indicating active participation by institutions and large investors, combined with technical oversold recovery, creating strong upward momentum.
Additionally, the outflow pressure of ETF-related funds temporarily eased, coupled with optimistic sentiment about policy benefits (such as the expected passing of the CLARITY Act), prompting some funds to position early. The fear and greed index dropped to a historic low, prompting some investors to buy the dip against the trend. At the same time, active addresses and transaction counts on the chain increased, restoring market participation. On the technical side, the daily RSI fell from extreme oversold levels to neutral, and momentum indicators showed short-term recovery needs. Macroeconomic asset volatility and short-term risk aversion among funds amplified the impact of this movement.
It is important to note that BTC remains in a high-volatility zone, and the short-term rebound faces strong resistance at $72,000. The ETF fund outflow trend has not fully reversed, and market sentiment still risks further deterioration. It is recommended to closely monitor large on-chain fund movements, market sentiment indicators, and key technical support and resistance levels, as short-term volatility risks should not be underestimated. For ongoing market updates and in-depth on-chain data, please follow mainstream market platforms and on-chain monitoring tools.
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
USDT supply hits fresh $188b ATH as Tether tightens grip on stablecoins
Tether CEO Paolo Ardoino says USDT supply has hit a record $188b, cementing the stablecoin's dominance as broader stablecoin liquidity sits near all-time highs.
Summary
Tether CEO Paolo Ardoino says USDT supply has reached a record $188 billion.
The new peak comes weeks after stablecoins hit a
Cryptonews3h ago
Grayscale Research Head: Bitcoin Rally Above $76K Could Signal Start of Bull Market Phase One
Grayscale research head Zach Pandl analyzes Bitcoin's rebound from a February low, using the realized price metric to show recent buyers at breakeven and hint at an early bull phase, with a reported bottom around $65k-$70k.
Grayscale’s Pandl: Bitcoin hit ~63k in Feb, rose to ~76k; realized price ~74k shows recent buyers breakeven, hinting at early bull phase and a bottom around 65-70k.
GateNews3h ago
Scammers Impersonating Iranian Officials Demand Bitcoin and USDT from Ships in Strait of Hormuz
Gate News message, April 21 — Scammers posing as Iranian officials are demanding Bitcoin (BTC) and Tether (USDT) as transit fees from ships in the Strait of Hormuz, according to a warning from MARISKS, a Greece-based maritime risk management firm. The scheme falsely promises "safe transit
GateNews3h ago
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 21
Gate News message, according to the April 21 update, Bitcoin ETFs recorded a 1-day net inflow of 3,599 BTC (approximately $272.59 million) and a 7-day net inflow of 18,914 BTC (approximately $1.43 billion). Ethereum ETFs showed a 1-day net inflow of 34,380 ETH (approximately $79.25 million) and a 7-
GateNews3h ago
Fidelity and Capital Group Become Strive's Two Largest Shareholders
Gate News message, April 21 — Fidelity and Capital Group have become the two largest shareholders of Strive, a Bitcoin treasury company, according to CEO Cole Macro. The two firms collectively hold ASST shares valued at approximately $152.8 million, as confirmed by the company's latest
GateNews3h ago
Charles Schwab to Launch Bitcoin and Ethereum Trading, Releases Educational Content on BTC
Charles Schwab plans to expand into crypto, offering Bitcoin education and direct BTC/ETH trading, allowing customers to buy Bitcoin in accounts; analysts call it a major mainstreaming moment.
Schwab announces an expansion into cryptocurrency with Bitcoin education and direct BTC/ETH trading, enabling clients to hold Bitcoin in their accounts; analysts view this as a turning point toward mainstream adoption.
GateNews4h ago
