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BTCUSD pared some of its gain on the escalation of geopolitical tension between Iran and Israel. It hits an intraday low of $69655 and is currently trading around $69979.
Bitcoin spot ETFs saw a strong rebound in institutional demand over the March 4–5 trading sessions, totaling around USD 920 million in net inflows. BlackRock's IBIT became the clear market leader, collecting USD 263 million on March 4 and raising its daily haul to USD 306 million on March 5, followed by Fidelity's FBTC's consistent strength (averaging roughly USD 95 million daily) and Bitwise's BITB (USD 36 million+ daily). Already topping USD 900 million in cumulative monthly inflows, this early March surge marks a clear reversal of February's poor outflow trend and points to a strong institutional "buy-the-dip" attitude notwithstanding continuous market volatility.
|
Technicals |
CMP -$69976 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$68891 |
CMP > 55 EMA |
Bullish |
|
200- EMA |
$71209 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$76158 |
CMP >365 EMA |
Bullish |
Major support- $64000/$60000/$52500/$50000. Major bullishness only above $74000.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
97.60 |
|
ADX |
Neutral |
- |
It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.
