US Spot Bitcoin ETFs Pull in Nearly $1B for a Third Straight Week
US spot Bitcoin ETFs recorded nearly $1 billion in net inflows last week, extending their positive run to three consecutive weeks as institutional demand continued to recover.
US spot Bitcoin ETFs recorded nearly $1 billion in net inflows last week, extending their positive run to three consecutive weeks as institutional demand continued to recover.
The Iran conflict could continue to weigh on Bitcoin and the broader cryptocurrency market. However, if the US government begins printing money to finance military spending, BTC could receive a strong upside boost.
Last week, the BTC/USD pair attempted to move higher, reaching two-month highs near 73,975.00. However, as analysts had anticipated, the rally lacked strong fundamental support, and the price returned to the medium-term sideways range of 70,000.00–62,500.00, currently trading around 67,000.00.
Bitcoin failed to hold above the $74,000 level and has fallen back toward the $70,000 area. Market attention is now shifting to new macroeconomic data from the United States. After a short-term rally above $74,000, the largest cryptocurrency quickly corrected, losing more than $3,000 within a short period. At the time of publication, BTC is trading near $70,500.
Bitcoin remains relatively stable despite rising geopolitical tension tied to the conflict between the United States and Iran. The question now is whether the market is preparing for its next major move.
Last week, the BTC/USD pair traded within the main sideways range of 70,000.00–62,500.00 (the upper Bollinger Band line — Murray level [2/8]), but it is currently under pressure amid a sharp deterioration in the geopolitical situation in the Middle East.
After yesterday’s airstrikes on Iranian targets, Bitcoin initially dropped sharply before quickly entering a strong recovery phase. What is behind the market’s rapid reaction?
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Bitcoin is stabilizing after the recent wave of sell-offs. Data points to shrinking capital inflows and a noticeable cooling in the asset’s valuation.
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BTC/USD. Last week, the BTC/USD pair entered a sideways range of 70,000.00–65,600.00 and remains within it for now, as the sector stabilized after a significant weakening at the beginning of the year amid uncertainty surrounding the future course of US Federal Reserve monetary policy.