Bitcoin briefly broke through $74,000 on Monday, continuing its upward trend. Analysts believe strong institutional demand is driving the price, and global crypto ETFs saw net inflows of approximately $1 billion last week, marking the third consecutive week of positive inflows. US Bitcoin spot ETFs dominated this trend, with Strategy and other companies continuing to increase their Bitcoin holdings. BlackRock's Bitcoin ETF attracted approximately $1.75 billion in inflows over the past three weeks. Despite the return of institutional funds, market structure indicates that the upward movement remains fragile. Crypto market liquidity has tightened since the end of January, with short-term holders holding less than 50% profitable. The options market has a high volume of open interest around $75,000, which could amplify price volatility if this level is broken. Analysts point out that Bitcoin has formed an accumulation zone between $62,000 and $72,000, and may maintain range-bound trading in the short term. A break above the $75,000 options zone could accelerate derivatives hedging; otherwise, consolidation is likely as investors await developments related to war, the energy market, and Federal Reserve policy. (The Block)