Bitfinex Report: Bitcoin Holds Above $70,000, Institutional Accumulation May Lead to Breakout

According to reports from Bitfinex Alpha, Bitcoin has stabilized above $70,000 ahead of the Federal Reserve's FOMC meeting on March 18, with market momentum picking up. Despite not breaking the current range high, continuous net inflows of spot ETF funds over the past four trading days and ongoing spot buying indicate institutional investors are continuously accumulating within the range, shifting the market from a liquidation-driven volatility phase to a more stable 'absorption' structure. On-chain and derivative data also show market structure improvement, with neutral funding rates and gradually rising open interest contracts. Data indicates that around $72,500, there was a peak of approximately $2.4 billion in short liquidation positions, which could trigger further upward momentum once the price breaks key resistance. With tensions in the Middle East driving oil prices higher, there is a widespread belief that inflation pressures may continue to rise in the coming months, which will also continue to impact global financial market liquidity, including cryptocurrencies.

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