On March 12, the Bitcoin-to-Gold ratio showed bullish divergence, indicating weakening selling pressure and potentially marking a reference point for Bitcoin's long-term trend bottom. Bitcoin ETF saw net inflows of approximately $906 million, while Gold ETF experienced single-day outflows of $3 billion, forming a significant divergence. Despite ETF trading volume being lower than US stocks, there remains substantial room for institutional participation. Historically, Bitcoin has often rebounded following geopolitical turmoil.

CryptoQuant data shows that since the outbreak of the US-Israel war, the net taker buy volume in the Bitcoin derivatives market has remained positive, indicating imbalanced buying and selling forces in the market. Bitcoin price has rebounded to $74,000, currently consolidating in the $62,000 to $72,000 range, and fluctuating between the realized price and the true market average price.