Bitcoin price soars to US$ 74 thousand as ETFs flow in billions

The price of Bitcoin surpassed US$ 74,000 on Wednesday (4), reaching its highest level since February 5. Amid tensions in the Middle East, with the bombing in Iran, Bitcoin was boosted by institutional purchases via exchange-traded funds (ETFs).

According to Bloomberg's senior ETF analyst Eric Balchunas, an “impressive” positive flow has been seen in Bitcoin funds in recent days, even amid a year of intense bearishness for BTC.

Another solid inflow day for the bitcoin ETFs. Almost all now net positive flows YTD. Amazing considering it's down 22% on year, 50% total decline. Crypto Twitter: call your parents, tell them thank you and that you love them and that you totally underestimated their hands. pic.twitter.com/8K7wSTmwYb
- Eric Balchunas (@EricBalchunas) March 4, 2026

The data published by Balchunas records US$ 1.428 billion in net inflows over the last five trading days. Although the flow from the beginning of the year to today is still negative at around US$ 1 billion.

In another publication, dated March 3rd, the analyst commented: “The boomers are back to the rescue, with bitcoin ETFs recording 1.5 billion dollars in inflows over the last 5 days, after another big day yesterday. The biggest gain in a long time, with virtually all of the original ten spot ETFs also in action = breadth and depth. This after a 50% drop and most in negative territory. Even I'm impressed.”

On-chain data also indicates accumulation

According to on-chain data from CryptoQuant, long-term Bitcoin holders accumulated 212,000 BTC in February 2026, reversing the selling trend seen at the end of 2025. In addition, the net position change indicator for these investors has returned to positive, suggesting a reduction in selling pressure and a possible new accumulation phase.

🧐 Over the past month, Long Term Holders added 212,000 BTC. pic.twitter.com/lr9Zfe4TtI
- Maartunn (@JA_Maartun) March 3, 2026

Add to this the signs of renewed institutional interest, such as the new purchases in addition to the aforementioned net inflows into Bitcoin ETFs, there is potential for recovery in the medium term.

On Monday (2), Strategy, the publicly traded company with the world's largest cash hoard in Bitcoin, announced that it had acquired a further 3015 BTC, adding to its reserve of over 720,000 bitcoins. It's interesting to note that Strategy's average purchase price is US$ 75,985 per bitcoin, which means that the company is in the black, but just barely.