Web3 Daily Briefing

2026-03-05
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The core feature of today's market is Bitcoin's brief breakthrough above the $74,000 mark, along with significant leadership changes triggered by the White House's nomination of Kevin Warsh as Federal Reserve Chair, which greatly boosted global risk appetite. This bullish momentum is supported by substantial institutional spot demand, evidenced by BlackRock withdrawing 4,716 BTC from Coinbase and Morgan Stanley's strategic choice of Bank of New York Mellon and Coinbase for ETF custody. For users who prioritize deposit safety, despite Wall Street regulators tightening controls over broad crypto activities, the shift of institutions toward regulated custody highlights the growing importance of compliant infrastructure. As Bitcoin hits a new monthly high and a16z raises $2 billion for its fifth fund, the sudden increase in liquidity may soon pressure Binance USDT OTC premiums toward the key threshold of 7.1. Given the large outflows of gold ETF funds—18 tons—and their shift into digital assets, in the current volatile environment, you should closely monitor OTC price deviations to ensure cost-effective capital entry.