ChainThink reports that on March 5, CryptoQuant community analyst Maartunn posted on social media: "Bitcoin rose to $74,050 this week—a move that is no coincidence. Multiple indicators show that institutional demand is driving this breakout, with the Coinbase premium reaching $61, signaling significant U.S. institutional buying, a trend corroborated by order flow data."
Approximately $790 million in Bitcoin was bought by institutions through TWAP orders ranging from $1 million to $10 million, a strategy commonly used to accumulate large positions without significantly impacting the market. On the technical side, Bitcoin has reclaimed the upper boundary of the $71,700 range and continues to rise; sustained trading above this level would confirm a breakout and maintain a bullish outlook.
However, market risks still persist. Leverage in the derivatives market has risen rapidly, with $3.55 billion in new leveraged positions added to Bitcoin (+18%) and $1.8 billion in new leveraged positions added to Ethereum (+17%). These new positions require sustained spot demand to remain stable. If buying pressure weakens, over-leveraged positions could be rapidly liquidated, triggering volatility. Currently, institutional spot demand remains the primary support for Bitcoin’s price increase.