TechFlow News, March 5: According to Maartunn, a CryptoQuant community analyst, Bitcoin’s price recently surged 7%, climbing from $68,000 to $73,500—primarily driven by robust institutional demand. The Coinbase premium spiked to $61, indicating substantial inflows from U.S. institutional investors. Hyblock data shows $790 million worth of Bitcoin purchased via TWAP orders—a typical strategy employed by large investors to accumulate positions without significantly impacting the market.
Technically, Bitcoin has broken above and sustained above the critical resistance level of $71,700, confirming a range breakout and preserving its bullish structure.
However, the analyst also warns of potential risks in the market. Leverage in derivatives markets is rising rapidly: Bitcoin added $3.55 billion (+18%) in leverage, while Ethereum added $1.8 billion (+17%). These newly established leveraged positions require sustained spot demand to remain stable; should buying support weaken, over-leveraged positions may be rapidly liquidated, exacerbating market volatility.
