Gate Research Institute: BTC has not yet decoupled from SaaS technology companies | Palantir criticizes Anthropic's safety restrictions
Cryptocurrency Overview
BTC (+7.17% | Current Price 72,443.1 USDT)
Bitcoin surged over 7% on Wednesday, driving the total market capitalization of the crypto market back above $2.5 trillion, with a daily increase of approximately 5.5%. This rebound was mainly driven by short squeeze. Previously, influenced by the Iran situation, the market experienced a concentrated sell-off, and the funding rate for Bitcoin perpetual contracts briefly dropped to extremely low levels. As geopolitical risks did not further escalate, funds that had previously taken bearish positions began to close their positions, leading to a rapid price rebound. Vetle Lunde, Head of Research at K33 Research, pointed out that Bitcoin's weekly RSI once dipped to 26.84, marking the third-lowest oversold level in history, providing technical support for the rebound.
ETH (+8.36% | Current Price 2,111.66 USDT)
On Wednesday, Ethereum
GateResearch·03-05 08:10

