BTC rebounds toward $70,000 as ETFs pull in $1.45 billion in five days

Bitcoin rebounded toward $70,000, trading at $68,000, a move market maker Enflux attributes more to short-covering following geopolitical headlines than strong conviction. Traders had leaned bearish amid Iran news, but the lack of immediate escalation caused a short squeeze. Institutional demand remains a key support, with BTC ETFs attracting roughly $1.45 billion in net inflows over the preceding five trading days.

Onchain data from Glassnode indicates the market is stabilizing; momentum indicators are recovering, and spot trading volume has climbed, suggesting easing aggressive selling. However, derivatives markets remain cautious, with futures showing sellers dominating buyers, signaling hesitation among leveraged traders. Overall, the data suggests Bitcoin has found temporary support, but traders are hesitant to price in either a decisive rally or a deeper selloff.

(Source：CoinDesk)