#加密市场上涨 The US-Iran conflict and crypto bullishness are driving forces, Ethereum has surged over 15% in three days! Bitcoin reaching 74,000 is boosting the entire market. Is the altcoin season coming?

Bitcoin and Ethereum showed a pattern of “high-level pullback and consolidation” during the day. In the short term, they remain in a strong cycle, with bullish momentum not fully exhausted. After continuous rebounds and a surge in the early morning, a pullback in the morning released some profit-taking pressure. The market mainly oscillated sideways at high levels during the day, with a focus on whether key support levels can hold.
Market Review Summary
Bitcoin retraced to around 67,400 yesterday before starting a volatile upward movement. It rose to around 71,892 during the session, then pulled back to around 70,588. It continued to rebound in the early morning, reaching a high of about 74,046. Today, the price pulled back from the high in the early hours, with a low of around 72,319. The current price is trading near 72,700. Ethereum is tightly linked to Bitcoin; after retracing to around 1,945 yesterday, it followed the upward trend, rising to about 2,092 before pulling back to around 2,036. It continued to rebound in the early morning to about 2,198, then pulled back in sync today. The current price is around 2,120.
Overall, the White House summit expectations and ongoing institutional capital inflows are pushing the price through key resistance levels, further strengthening the bullish trend. Currently, the market is in a technical correction phase after a breakout.

News Summary and Outlook
Policy: The countdown to the White House summit has heightened market sentiment. Focus is on the March 7 White House Cryptocurrency Summit, awaiting further clarification on the Trump administration’s specific plans for crypto strategic reserves.
Sources reveal that the US government may announce the formal transfer of Bitcoin seized by the Department of Justice into strategic reserve accounts, and outline future plans to purchase via open markets.
Former crypto policy advisor to Trump stated that there is still significant room for the US government to promote Bitcoin adoption, requiring political capital to push for substantial progress. The market generally expects the summit to send positive signals and encourage early capital deployment.
Macro: Rate cut expectations have shifted later, but risk appetite is rebounding.
According to CME “Fed Watch,” the probability of the Federal Reserve holding interest rates steady in March is as high as 97.4%, with the chance of a cumulative 25 basis point rate cut by June dropping to 33.5%. US ADP employment data exceeded expectations, adding 63,000 jobs in February, and the ISM Services PMI rose to 56.1. Strong data reinforce expectations that the Fed will maintain high interest rates.
However, the crypto market shows strong independent characteristics from macro pressures, indicating that risk asset preference is recovering.

Geopolitics: Tensions in the Middle East persist
The US and Israel’s military actions against Iran have entered the sixth day. Iran claims to be prepared for “long-term war,” and risks to shipping through the Strait of Hormuz continue. Geopolitical conflicts have driven oil prices higher, increasing inflation pressures and indirectly affecting Fed policy expectations. However, the crypto market is more driven by its own narrative.
Capital and Sentiment: Institutional buying remains strong, on-chain data is positive. Recently, crypto market buying power has been robust. As of the morning of March 5, Bitcoin has gained over 7% in the past 24 hours, and Ethereum over 9%. Mainstream cryptocurrencies are all in the green, and market sentiment is warming.
From capital flow perspective, US Bitcoin spot ETF trading volume continues to rise, with some ETFs hitting record single-day trading volumes. Institutional capital inflows are a key driver of the recent rebound. However, it’s important to note that after consecutive rebounds, short-term profit-taking has accumulated, and profit-taking after the early morning surge caused prices to fall back today. Leverage fluctuations have further intensified intra-day volatility.

March 5 Bitcoin (BTC)) Intraday Analysis
On the daily chart, Bitcoin has been consistently closing higher, successfully breaking above the 5-day, 10-day, and 20-day moving averages. The moving average system shows a bullish alignment, indicating a clear short-term strong trend. The rebound from yesterday to early today broke through previous consolidation ranges, further confirming the upward pattern. However, the morning pullback shows resistance above, and the market is entering a high-level consolidation phase, needing to digest profit-taking pressure. Key intra-day support levels are: first support at 72,000-72,300 (psychological level and recent low), and strong support at 71,000-70,500 (near yesterday’s low). The critical psychological level is 70,000. Resistance above is at 73,500-74,000 (today’s high and psychological level). Breaking through this could target 75,000-75,500. Overall, the market remains at high levels, indicating that short-term consolidation is the main trend, with limited downside. During the day, paying attention to a pullback and stabilization around 72,000-72,300 is advisable for light positions. Trading strategies should focus on “high-level oscillation, trend-following dips, cautious chasing, and strict risk control,” while also considering short-term swing opportunities.