Bitcoin has surged to a one-month high, surpassing the significant psychological level of $73,000. This increase comes despite the prevailing risk-off sentiment that has recently impacted U.S. stock markets due to escalating tensions in the Middle East. According to data from CoinGecko, Bitcoin experienced a remarkable 7% rise in value, bringing the BTC/USD pair to its peak in the last month.
The latest rally in Bitcoin is closely tied to a notable surge in spot Bitcoin ETF inflows, which have persisted for two consecutive sessions. This influx occurs even amidst ongoing geopolitical unrest, with reports indicating that Israel has targeted various security and command locations in Tehran, while Iranian forces have engaged U.S. facilities. On March 3, the eleven U.S.-listed spot Bitcoin ETFs collectively recorded approximately $225.15 million in net inflows, following around $458 million the day before. Notably, no ETF reported net outflows on March 2, as per data from SoSoValue.
The inflows have been significantly driven by BlackRock”s iShares Bitcoin Trust (IBIT), which alone attracted $322 million in net inflows on Tuesday. This positive shift comes after a challenging start to the year for spot Bitcoin ETFs, which had faced cumulative outflows nearing $9 billion from mid-October until late February. Although these funds recorded about $1.1 billion in net outflows for 2026, the recent momentum indicates a renewed interest from institutional investors, suggesting an increased appetite for risk following a quieter period.
While the rebound in ETF inflows is encouraging, the overall market sentiment remains largely negative. The Crypto Fear & Greed Index is hovering around 10, a figure that typically signifies “extreme fear” among investors. However, a potential easing of geopolitical tensions could further enhance the flow of investments into ETFs, while any additional instability might lead to increased market volatility.
At the time of this report, Bitcoin was trading at approximately $73,760, based on CoinGecko data. The leading cryptocurrency has gained more than 6.9% in the past week, although it still sits around 41.8% below its all-time high of $126,080, which was reached on October 6, 2025.
