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Bitcoin ETFs attract $1.1B in three days: institutions are restoring Bitcoin’s “safe haven” narrative
Bitcoin ETFs attracted more than $1 billion in just three days — and this is more than a statistical figure. It marks the return of a narrative many believed had already faded: Bitcoin as a “safe haven” during geopolitical turmoil.
According to ETF trackers Farside Investors and CoinGlass, spot Bitcoin ETFs recorded approximately $1.1 billion in net inflows between March 2 and March 4.
On March 4 alone, inflows reached $461.9 million, with BlackRock’s IBIT ETF leading the way, attracting $306.6 million in a single session.
This surge came after several weeks of steady outflows that had weighed on market sentiment earlier in the year.
When gold retreats, Bitcoin advances
Notably, the rally began precisely when gold and oil retreated from their recent highs.
Such divergence is relatively rare in financial statistics, and analysts were quick to highlight it.
Capital inflows into Bitcoin ETFs during geopolitical instability no longer appear to be:
- a short squeeze,
- or a mechanical reaction to technical levels.
Instead, they suggest a deeper fundamental shift: large institutional investors may increasingly view Bitcoin as a hedging instrument during periods of geopolitical stress and rising inflation expectations.
In other words — as the asset it was originally intended to be.
The long-standing debate over Bitcoin’s nature — whether it is a risk asset like technology stocks or a store of value similar to gold — has once again come to the forefront.
The conflict involving the United States, Israel, and Iran has effectively become a stress test, which Bitcoin appears to have handled better than some traditional markets.
Dollar weakens while Bitcoin holds firm
Intermarket dynamics in recent sessions further support this argument.
While equity markets and the U.S. dollar fluctuated with geopolitical headlines, Bitcoin continued to move higher.
The U.S. Dollar Index failed to maintain its momentum even amid escalating tensions — a notable signal.
The traditional flow of capital into the dollar as a safe haven appears to be losing strength.
The dollar’s inability to hold above key technical levels suggests markets are assessing risks more cautiously than earlier in the week.
In this context, Bitcoin appears to be in a favorable position. Its resilience during a period when other risk assets experienced turbulence strengthens the argument — though it may not yet be definitive.
At the same time, the macroeconomic backdrop remains mixed.
Key risks include:
- potential new U.S. trade tariffs
- threats to global energy supplies through the Strait of Hormuz
These factors continue to create a nervous environment for risk assets.
However, recent U.S. economic data revealed a rare combination:
- continued economic growth
- moderate inflation pressures
This “golden balance” helped stabilize market sentiment after the initial wave of sell-offs.
Analysts at Glassnode report that capital inflows into spot Bitcoin ETFs have turned upward, while selling pressure is easing as Bitcoin stabilizes above $70,000.
If ETF inflows continue in the coming sessions, the discussion of Bitcoin as a “safe haven” may evolve from an analytical narrative into a sustained market reality.
14-day moving average of capital inflows into spot Bitcoin ETFs. Source: Glassnode.
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