Bitcoin’s price stability over the weekend was driven by spot market buying and ETF inflows, according to market analysis. Spot buyers accumulated approximately $3.5 billion since early March, providing a foundation above $65,000. Concurrently, U.S. spot Bitcoin ETFs saw significant net inflows, absorbing selling pressure and reinforcing key technical levels despite broader geopolitical uncertainties.
Bitcoin found support from unleveraged spot buyers as geopolitical tensions rattled global financial markets. Market data shows these buyers accumulated about $3.5 billion through steady purchases since March 1.
This demand helped push Bitcoin above $65,000 during a period analysts describe as a “wall of worry” climb. Derivatives data indicates the move was driven by genuine accumulation rather than leveraged speculation.
The Coinbase Premium Index also turned positive, signaling sustained demand from U.S. participants. Defense of the $60,000 level reinforced Bitcoin’s transition into an expansion phase with moderate funding rates.
U.S. spot Bitcoin exchange-traded funds significantly contributed by reversing earlier outflows. Strong inflows last week helped absorb selling pressure from miners and long-term holders.
For instance, March 4 saw $461.9 million in net flows, while week-to-date figures through March 5 exceeded $1.14 billion. These inflows have reinforced key technical levels, with $77,400 noted as major resistance and $54,100 as core support.
Analysts also note Bitcoin’s correlation with the Nasdaq and geopolitical risks tied to the Strait of Hormuz. These factors could influence near-term market volatility.
