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
A certain whale simultaneously established short positions for both ETH and BTC on Hyperliquid within 1 hour, with a total scale exceeding $60 million.
On March 12, whale address 0x049 created short positions exceeding $60 million in ETH and BTC on the Hyperliquid platform, with ETH shorts of approximately $30.1 million and BTC shorts of approximately $30.06 million, both facing certain unrealized losses.
GateNews9m ago
BTC Price Today: Bitcoin Stabilizes Near $70K as Oscillators Flash Neutral Signals
As of March 12, 2026, bitcoin traded around $70,523 per unit, with a market capitalization of roughly $1.41 trillion and 24-hour trading volume near $47.04 billion. The session’s price range stretched from $69,034 to $71,230, leaving the market hovering near the middle of that band while technical i
Coinpedia30m ago
What will end the crypto bear market in 2026?
With Bitcoin's price having declined more than 40% from its all-time high in October last year, within just 5 months, and the total cryptocurrency market capitalization losing nearly 2 trillion USD, there is no doubt that we are going through a bear market phase. However, the big question remains: When will the recovery happen?
TapChiBitcoin30m ago
Victims in the Qian Zhimin Case File Objection with UK High Court Over 61,000 BTC Compensation Plan
In the Qian Zhimin case, Chinese victims have objected to a compensation plan proposed in the UK High Court, arguing that the plan could allow UK authorities to profit from the appreciation of seized Bitcoin. The case involves fraud from 2014 to 2017 that affected over 128,000 Chinese investors, with legal representatives claiming the compensation arrangement may be unfair.
GateNews53m ago
