Bitcoin has rebounded recently, briefly approaching the $74,000 mark, with a cumulative increase of over 10% since the outbreak of the Middle East conflict. Notably, this surge has occurred against the backdrop of declining risk appetite in global stock markets and a strengthening US dollar. The US Dollar Index (DXY) rose more than 1% this week, reaching 99.68 on Wednesday, its highest level since November of last year. Historically, Bitcoin has typically had a negative correlation with the US dollar, but since Trump's victory in the 2024 election and his pro-crypto policies, the two have repeatedly moved in tandem. Regarding fund flows, demand from US investors has strengthened. Data shows that the Coinbase premium index, which measures the price difference between US exchanges and offshore markets, rose to 0.0227%, the highest level since December of last year, generally seen as a signal of increased US capital inflows. The market is currently focused on whether Bitcoin can effectively break through the key resistance level of $74,000. A successful breakout could further boost investor confidence and attract more funds into the market. On the macro front, traders are focused on the upcoming US February jobs report (March 6), CPI data (March 11), and the Federal Reserve's interest rate meeting on March 17-18. These events could be significant catalysts for volatility in global risk assets, including the cryptocurrency market. Meanwhile, some analysts caution that uncertainty remains regarding the Middle East situation, and an escalation of conflict could further disrupt market sentiment. (CoinDesk)