March 5, 2026

Yesterday the market surged dramatically, marking the first time in a month that Bitcoin rebounded above 70,000, and Ethereum nearly touched $2,200, hitting a new one-month high. Although this rebound has pulled back slightly so far, I believe the strong trend may continue. One point worth noting is that during this rally, Bitcoin's contract open interest also hit a new high, and the decrease in the long-short ratio indicates a clear sign of major players' involvement.

Of course, even in the main upward wave that signals a rebound, there may be further dips and shakeouts along the way. This is the challenge faced when bottom-fishing on the right side. I prefer left-side bottom-fishing, so I tend to buy during dips and sideways consolidations after declines. When the market truly starts to rise on the right side, I would instead gradually sell off my positions. Now that we've broken through 70,000 with a strong bullish candle, the next key level is whether this 70,000 mark is a genuine breakout or just a false move.