Bitcoin has made a strong comeback to the $70,000 mark on March 13 following severe volatility triggered by Middle East tensions, even briefly breaking through $72,000. This rebound not only recovered lost ground but also demonstrated the unique resilience of digital assets amid macro turbulence.

Double-Driven by Geopolitics and Risk-Aversion Demand

The core driver of this round of increases stems from subtle changes in Middle East tensions. As the US-Iran conflict enters a stalemate phase, market concerns about potential shipping disruptions in the Strait of Hormuz have pushed up oil prices, while simultaneously triggering demand for all-weather trading assets among funds seeking haven. Bitcoin, leveraging its 7x24-hour trading and borderless circulation characteristics, continues to provide liquidity even when traditional markets are closed, making it a preferred choice for funds managing geopolitical risks.

Resonance Between Technical and Funding Factors

From a technical perspective, Bitcoin showed strong support after quickly rebounding from the $63,000 level it had broken through. Meanwhile, US spot bitcoin ETFs achieved net inflows for the third consecutive week, attracting approximately $583 million this week—the longest sustained period of net inflows since July last year. The continuous influx of institutional capital provides solid buy-side support for prices.

Market Outlook: Resistance and Opportunities Coexist

Despite prices returning to higher levels, market sentiment remains cautious. Analysts point out that Bitcoin may face significant resistance around the $75,000 level. Without a complete resolution of geopolitical risks, the market may struggle to break through this key psychological barrier. However, as selling pressure decreases significantly and stablecoin capital flows back in, the market is gradually entering a positive accumulation phase, building momentum for subsequent rebounds.