【Analyst: Institutional Spot Demand Is the Main Support for Bitcoin's Current Rise】

BlockBeats News, March 5 — CryptoQuant community analyst Maartunn posted on social media that "Bitcoin briefly surged to $74,050 on Monday. This movement is not accidental. Multiple data points indicate that institutional investment demand is driving this breakout, with Coinbase premium rising to $61, suggesting large-scale buying by U.S. institutions entering the market, confirmed by order flow data. Approximately $790 million worth of Bitcoin was purchased by institutions through TWAP orders ranging from $10,000 to $1 million. TWAP is typically used for accumulating large positions without significantly impacting the market. On the technical side, Bitcoin has re-established above the $71,700 high and continues to rise. If it remains above this level, it will confirm a breakout of the range and maintain a bullish pattern. However, market risks still exist. Derivatives market leverage has increased rapidly, with Bitcoin's new leverage positions at $3.55 billion (+18%) and Ethereum's at $1.8 billion (+17%). These new positions require sustained spot demand to remain stable. If buying support weakens, over-leveraged positions could be quickly liquidated, causing volatility. Currently, institutional spot demand remains the main support for Bitcoin's rise.】