TechFlow News, March 5 — According to DL News, Bitcoin’s price rose 5% over the past 24 hours, breaking above $72,000. Analysts say this rally was primarily driven by short-covering and retail capital flows—not by strong market confidence. Nicolai Søndergaard, Research Analyst at Nansen, noted that Bitcoin’s price has oscillated between $60,000 and $70,000 over the past month, and a confirmed breakout has yet to materialize.
Meanwhile, Bitcoin exchange-traded funds (ETFs) attracted $462 million in inflows, with DefiLlama data indicating March could be the first month since October to post positive net inflows. Livio Weng, CEO of Bitfire, expressed optimism, stating this rebound highlights Bitcoin’s value as a safe-haven asset—particularly amid heightened geopolitical tensions in the Middle East.
