Svmuu News Bitcoin has been on a steady rebound recently, briefly approaching the $74,000 mark, with cumulative gains exceeding 10% since the outbreak of the Middle East conflict. Notably, this rally has occurred against a backdrop of declining risk appetite in global stock markets and a simultaneous strengthening of the U.S. dollar.The US Dollar Index (DXY) rose more than 1% this week, hitting 99.68 on Wednesday—its highest level since November of last year. Historically, Bitcoin has typically been negatively correlated with the US dollar, but since Donald Trump won the 2024 election and proposed crypto-friendly policies, the two have moved in tandem on multiple occasions.In terms of capital flows, demand from U.S. investors has strengthened. Data shows that the Coinbase, which measures the price spread between U.S. exchanges and offshore markets, rose to 0.0227%—its highest level since December of last year—a figure typically viewed as a signal of increased capital inflows from the U.S.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 capital into the market.On the macro front, traders are watching for the upcoming U.S. February jobs report (March 6), CPI data (March 11), and the Federal Reserve’s (Federal Reserve) policy meeting on March 17–18. These events could serve as significant catalysts for volatility in global risk assets, including the crypto market.At the same time, analysts caution that uncertainty remains regarding the situation in the Middle East; should the conflict escalate, it could once again disrupt market sentiment. (CoinDesk)