latest Bitfinex Alpha report points out that Bitcoin has regained the $70,000 mark ahead of the Federal Reserve's March 18 FOMC meeting this week, with market momentum clearly picking up. Although the price has not yet broken through the current range high, the recent four consecutive trading days of net inflows into spot ETFs and continuous spot buying indicate that institutional investors are steadily accumulating within the range, and the market is shifting from the previous liquidation-driven volatility phase to a more stable "absorption" structure.

On-chain and derivatives data also show an improvement in market structure, funding rates remain neutral, and open interest is gradually rising. Data shows that around $72,500, the highest short liquidation position of approximately $2.4 billion was concentrated, and once the price breaks through this key resistance, it may trigger further upward momentum. Against the backdrop of rising oil prices driven by escalating tensions in the Middle East, the market generally believes that inflationary pressures may further increase in the coming months, which will continue to impact the liquidity environment of global financial markets, including crypto assets.