March 5 News: Bitcoin has recently rebounded strongly, temporarily recouping most of the losses from the past few weeks. However, some market analysts warn that this rally may just be a “dead cat bounce.” Industry expert Arthur Hayes stated that the current Bitcoin rebound is short-lived and fragile, potentially paving the way for the next decline in the near term.
In the past 24 hours, Bitcoin’s price has risen over 6%, reaching $72,588, with a weekly increase of approximately 6.37%, but it remains down 7.5% for the month. Hayes pointed out that Bitcoin’s recent sell-off is closely related to structured product trading strategies tied to the BlackRock iShares Bitcoin Trust (IBIT). He warned that Bitcoin still remains highly correlated with the performance of U.S. SaaS technology companies and has not yet decoupled from broader tech sector risks, making its short-term trend uncertain.
Another analyst, CrediBULL Crypto, also remains cautious about Bitcoin’s short-term outlook. He believes Bitcoin may be forming a medium- to long-term bottom above $50,000, but in the short term, it could continue to fluctuate within a range, facing risks of either upward movement or a pullback at any time.
Notably, Bitcoin’s rebound has coincided with a rise in gold prices, indicating that investors are seeking safe-haven assets amid current geopolitical tensions and market volatility. The Trump administration’s recent announcement of a multi-million dollar gold deal with Venezuela has also somewhat boosted risk aversion sentiment.
Market observers warn that although ETF capital inflows and short-term buying support Bitcoin’s rebound, investors should remain alert to potential pullback risks. Analysts recommend closely monitoring key price levels to determine whether Bitcoin can truly shake off short-term volatility and enter a new bull market.
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