[Analysis: Institutional funds reposition after weeks of crypto market turbulence, potentially providing key support for BTC rebound] Deep Tide TechFlow reports, on March 4, according to The Block, amidst the ongoing escalation of U.S.-Iran conflicts and the market's repricing of Middle Eastern geopolitical risks and delayed expectations for short-term Federal Reserve rate cuts, Bitcoin's performance remains strong. Analysts believe that after weeks of consolidation and turbulence, institutional funds have repositioned, providing significant support for Bitcoin's rebound. Spot ETF funds have flowed back, underpinning the price recovery. Additionally, on-chain and derivatives data also indicate a rise in risk appetite, with Bitcoin perpetual contract open interest recording the largest single-day increase since July 2025, and leverage expanding significantly. However, there may be a time lag between ETF share trading and actual Bitcoin spot purchases, and the settlement and hedging mechanisms of institutional products could weaken the immediate transmission effect on short-term prices.