The US spot Bitcoin ETF has ended net outflows and returned to net inflows, with over $1 billion flowing in during a single week in March. Institutions like BlackRock and Fidelity are making long-term allocations, while companies like MicroStrategy continue to increase their positions. Institutional funds have become a stabilizer for prices, with a significant locking effect.

With the easing of geopolitical conflicts and a drop in oil prices, inflation pressures are alleviating. Expectations for Federal Reserve rate cuts are rising, US Treasury yields are declining, the dollar is weakening, and the liquidity environment is favorable for Bitcoin and other high-sensitive risk assets and digital gold.

The 12-18 months following a halving mark the main bullish phase of a market, and we are currently in a critical window; Bitcoin stock on exchanges continues to see net outflows, with a high percentage of long-term holders locking up their positions, resulting in light selling pressure and a healthy chip structure.

From a technical perspective, the four-hour price level remains in the upper-mid range. As long as it doesn't break below the mid-line support, it is difficult for the price to go down, especially since the daily level shows a strengthening state, which was mentioned in yesterday's static post. Regardless of news or technical structural factors, the overall outlook remains bullish on pullbacks.

Considering building positions in batches during the pullback in the 68500-69000 area with an upward outlook. First target: 71000-71500 threshold; second target: 73000-75000 range; defense at 68000 threshold. Thank you all for your attention; the levels are for reference only.

Follow the public account, for worries to be resolved, only Jiang Wei, a treasure analysis blogger with high emotional value, shares trading education for free, bringing stability and clear guidance in the turbulent trading market. With experience through three cycles of bull and bear markets and many years of practical trading experience, I excel in naked K, trends, Dow Theory, Gann, harmonics, Chan theory, Elliott waves, and other technical analysis, culminating in unique personal insights.

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