[Viewpoint: The recent BTC surge is mainly driven by short covering and retail funds, not a sign of strong market confidence] According to Deep Tide TechFlow on March 5, as reported by DL News, Bitcoin's price rose 5% in the past 24 hours, surpassing $72,000. Analysts stated that this price increase was primarily driven by short covering and retail fund flows, rather than a demonstration of strong market confidence. Nansen research analyst Nicolai Søndergaard pointed out that Bitcoin's price has been fluctuating between $60,000 and $70,000 over the past month and has yet to confirm a breakout. Meanwhile, Bitcoin exchange-traded funds (ETFs) attracted $462 million in inflows, and DefiLlama data shows that March is on track to become the first month since October with positive net inflows. Bitfire CEO Livio Weng remains optimistic, believing that this rebound highlights Bitcoin's value as a safe-haven asset, especially against the backdrop of heightened geopolitical tensions in the Middle East.