Bitcoin remains volatile around $72,000, gold funds may flow into the crypto market
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On March 5th, according to CoinDesk, bitcoin is currently fluctuating above $72,000, while ethereum has seen a slight increase. After the previous breakout, the market has entered a consolidation phase. Bitcoin futures open interest has risen to about 680,000 BTC, reaching a nearly two-week high. Open interest in futures for gold-backed tokens XAUT and PAXG continues to decline, indicating that some capital may be flowing back to mainstream crypto assets as the gold rally slows. In the options market, demand for high strike price call options is increasing, the 30-day implied volatility remains generally stable, and overall market sentiment is relatively calm.
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