The cryptocurrency market has recently seen a long-awaited strong rebound. On March 5th, the price of Bitcoin briefly broke through the $74,000 mark, rising nearly 8% in 24 hours and reaching a new high in almost a month. Currently, the price of BTC is fluctuating between $72,000 and $73,000, and the overall sentiment in the crypto market has improved. ETH rose to around $2,100, with a gain of over 7%, and some altcoins saw a slight rebound.

Regarding liquidation data, according to Coinglass, $595 million in open interest was liquidated across the entire network in the past 24 hours, with short positions accounting for $482 million. The market fear index has finally moved out of the extreme fear zone and rebounded to 29.

Recently, two major political events—the White House formally submitting Kevin Warsh's nomination to the Senate as Federal Reserve Chairman and the Senate's rejection of a resolution limiting Trump's war powers against Iran—quickly boosted global risk appetite. The market generally believes that Warsh's nomination, as a renowned economist, significantly enhances the continuity of Federal Reserve policy and positive market expectations; while the Senate vote effectively alleviated concerns about escalating geopolitical conflicts in the Middle East, preventing the worst-case scenario from occurring.

Gold has performed strongly as a safe-haven asset, currently hovering around $5,150-$5,300 per ounce. US cryptocurrency stocks generally rose, with MSTR closing up 10.37%, COIN up 14.57%, and CRCL up 5.63%.

In addition, according to Bitget market data, Japanese and South Korean stock indices opened higher. The South Korean KOSPI index rose 565.69 points to 5654.72 points, an increase of 11.02%; the Nikkei 225 index rose 2319 points to 56564.54 points, an increase of 4.28%.

BTC spot ETFs have seen continuous large net inflows since the end of February this year.

Data shows that before the end of 2025 and the beginning of February 2026, Bitcoin spot ETFs showed occasional large net inflows, but frequent large net outflows.

Since Bitcoin hit an all-time high in early October last year, as of February 20, 2026, the holdings of U.S. Bitcoin spot ETFs have experienced the largest reduction in this cycle, with a cumulative decrease of approximately 100,300 BTC.

However, this trend began to change on February 20, showing several large net inflows.

As of March 5, there were only two net outflows, and the amounts were not large. During this period, there were large net inflows, such as $458 million and $506 million on single days.

With funds entering the market starting to recover, it's not surprising that the price of BTC has risen.

400,000 BTC were bought up at $60,000 to $70,000, and selling pressure is easing.

During the Bitcoin correction in February this year, according to Glassnode data, there was a significant accumulation of tokens in the $60,000 to $70,000 range during the sharp Bitcoin pullback, with more than 400,000 BTC being bought by investors, showing strong "buy the dips" behavior.

The BTC supply in this price range has increased from approximately 997,000 on January 1st to approximately 1.43 million currently, an increase of approximately 429,000, or 43%. Currently, the holding cost of more than 8% of the circulating supply on non-trading platforms is concentrated in this range, and a dense holding band has been formed.

In addition, data from March 3 shows that after months of continuous net selling, the net position changes of long-term holders (LTH) are now moderating.

This indicates that as Bitcoin prices stabilize, selling pressure from experienced holders is easing. While supply-side headwinds for BTC remain, the intensity of the sell-off is weakening .

Stablecoin market capitalization remains high, with an increase of $1.737 billion in the past 7 days.

Stablecoin data remains one of the indicators for observing market funds.

According to DefiLlama data, its total market capitalization remains at a high level of $310.848 billion. Over the past seven days, USDT's total market capitalization increased by 0.03%, while USDC's increased by 1.84%.

It's worth noting that in the past month, USDC's market capitalization increased by 8.6%, PYUSD by 16.7%, U by 29.04%, and USDG by 12.87%.

The high levels of stablecoins not only provide ample market liquidity but also signal the continued influx of capital into the crypto ecosystem—trading volumes remain in the trillions of dollars, acting as a bridge and accumulating momentum for the next phase of growth for assets like Bitcoin. While explosive growth has not yet materialized, the stable supply itself is a reflection of market maturity and restored confidence.

Michael Saylor has been continuously increasing his Bitcoin holdings through his company's unlimited buying strategy, and currently holds over 720,000 coins at an average cost of approximately $76,000. He has repeatedly stated publicly, "We are in a phase similar to Apple's early 'valley of despair,' and Bitcoin, as a digital asset and digital credit, will outperform traditional assets."

In an early February 2026 outlook report, ARK Invest founder Cathie Wood pointed out that the Bitcoin downtrend cycle may be nearing its end. "The key to diversifying asset allocation is introducing new assets with low correlation to existing assets, and Bitcoin fits this bill perfectly. The addition of low-correlation assets can improve risk-adjusted returns in the long run. Therefore, Wood believes that institutions are indeed taking cryptocurrencies seriously. Previously, they may have hesitated because of the 'four-year cycle' narrative. Regardless of whether a four-year cycle exists, the market has indeed experienced a significant decline and is currently approaching what many technical analysts consider a potential low. Near the bottom, the market typically experiences sharp fluctuations. In hindsight, people often say, 'If only I had bought at that low. The V-shaped rebound has been quite significant.' Of course, this is not a promise of any kind, but it seems that several factors are gradually aligning."

In an interview with CNBC, Tom Lee, chairman of Ethereum treasury BitMine, said, "Nobody wants to see the US get involved in a conflict. But it must be pointed out that the market has performed much more strongly than expected. I don't think anyone can say we've bottomed out yet, but it looks like we're building a bottom—bad news is coming in, but the market is digesting it and remaining stable. More importantly, I think positions have been significantly rebalanced. If we look back to April last year, a simple signal was the VIX rising above 40. It reached 80 last year, but it may not reach that high this time. Another signal is: another piece of panic news, gold continues to fall, but the stock market turns positive that day, which indicates that the market has cleared out. I think we are approaching that stage."

Tom Lee believes March was a bottoming-out period. The decline in software, Mag7, and crypto assets is about 90% complete. They are outperforming the market, a sign of leadership. Even with global trade disruptions, you still need AI, and you still need Mag7. These companies' fundamentals remain strong. Investors need to be patient and cautious, holding some cash. But I think opportunities are emerging.