BlockBeats news, on March 4, accompanied by yesterday's net inflow of $225.2 million into U.S. spot Bitcoin ETFs, Bitcoin led a strong rebound in the crypto market today, with total open interest on derivatives contracts posting its largest single-day increase since July last year, and multiple institutions also increased their crypto positions, including:
Ark Invest continues to buy the dip in COIN and HOOD, steadily increasing its holdings in crypto-related stocks;
BlackRock's ETF address had a net withdrawal of 3,809 BTC over the past 20 hours;
The Gamma Fund invested in 9,000 ETH at an average price of $1,984.
Alongside institutional buying, multiple analysts are also bullish on the cryptocurrency market:
On-chain data analyst Murphy stated that the market sentiment index has reached an "extreme negative" level, indicating that investor confidence in Bitcoin's trend is nearly collapsed. Additionally, Bitcoin's short-term momentum signal, "BRS," has reversed after a month, shifting from a prolonged "buy signal" that lasted exactly one month toward a "sell signal."
Cryptocurrency market analysis firm Santiment says that social media discussion around the "altseason" has hit a record low. However, historical data shows that when interest in altcoins falls to extreme lows, it often precedes a rebound.