The recent rebound of Bitcoin (BTC) has now continued for a third consecutive week, with the asset rising to around $74,509, its highest level since Feb. 4.

Although market participants remain cautious about declaring a definitive bottom, the cryptocurrency has gained roughly 22.5% since its Feb. 6 low near $60,000. Current market data suggests that renewed institutional participation may be playing an important role in supporting the ongoing upward move.

One notable development over the past week came from Michael Saylor’s Strategy, the largest publicly traded corporate holder of Bitcoin. The company added 22,237 BTC to its reserves in a purchase valued at approximately $1.57 billion.

Additional signs of institutional interest have appeared in the exchange-traded fund market. “Inflows to exchange-traded funds suggest a return of institutional confidence. Net flows for the 12 US-listed spot Bitcoin ETFs topped $763 million last week, a third consecutive week of inflows”

Corporate demand and macro factors support momentum

Institutional participation has also expanded beyond ETFs. On Monday, Tokyo-listed company Metaplanet, which operates Japan’s first corporate Bitcoin treasury, revealed it had secured $255 million through a private placement. The funding will be used to increase the company’s Bitcoin holdings.

Metaplanet CEO Simon Gerovich indicated that the new capital would strengthen the company’s long-term accumulation strategy. “additional firepower on our march towards 210,000 BTC.”

Market analysts have also pointed to improving technical conditions. Researchers at Bitfinex noted that Bitcoin is approaching the upcoming Federal Open Market Committee (FOMC) meeting on March 18 with renewed momentum after regaining the $70,000 level. According to the firm, Bitcoin’s market structure has strengthened in recent weeks even though the asset has not yet confirmed a decisive breakout above its local range highs.

Institutional absorption highlights shifting market dynamics

Bitfinex analysts highlighted onchain metrics indicating that institutional buyers may be absorbing a significant portion of newly mined supply. Their report pointed to the absorption-to-emissions ratio (AER), which suggests that large investors are purchasing nearly five times the amount of Bitcoin produced daily by miners. Combined with rising open interest in Bitcoin futures markets, these trends could indicate that market structure is beginning to resemble the healthier conditions observed earlier in the year.

When evaluating whether the market has already formed a bottom and whether institutional inflows are responsible for the recent price rise, analysts at Hyblock offered a more cautious perspective. They explained that following the sharp decline earlier in the year, Bitcoin entered a consolidation phase characterized by falling open interest, increased margin usage by short sellers, and selling pressure reflected in both spot and perpetual cumulative volume delta (CVD) indicators.

Sources:

https://www.bloomberg.com/news/articles/2026-03-16/bitcoin-climbs-in-asia-as-other-markets-remain-tepid?srnd=phx-markets

https://cointelegraph.com/markets/bitcoin-s-push-toward-75k-revives-debate-over-what-drives-capital-flows

https://x.com/gerovich/status/2033470185550811464