Bullish Sentiment Summary: Multiple Institutions Increase Crypto Holdings, Analysts Simultaneously Shift to Bullish View

BlockBeats News, March 4th, accompanied by yesterday's $2.252 billion net inflow into the US Bitcoin spot ETF, Bitcoin led the crypto market to a strong rebound today. The overall open interest of futures contracts recently saw the largest single-day increase since July last year, and multiple institutions also increased their crypto holdings, including:

Ark Invest bought the dip in COIN and HOOD, continuing to increase their holdings of crypto-related stocks;

BlackRock's ETF address saw a net withdrawal of 3,809 BTC in nearly 20 hours;

The investment fund Gamma Fund bought the dip with 9,000 ETH at an average price of $1,984;

Alongside institutional buying, several analysts are also bullish on the crypto market:

On-chain data analyst Murphy stated that the market's confidence index has reached "extreme negativity," with investors' confidence in Bitcoin's trend near collapse. In addition, the Bitcoin short-term momentum signal "BRS" has started to turn around after a month, shifting from a long-held "buy" signal to a "sell" signal.

The crypto market analytics firm Santiment indicated that the current discussion heat on social media about the "altcoin season" has dropped to near-freezing levels. However, historical experience shows that when the market's interest in altcoins drops to extremely low levels, it is often the eve of a rebound.