Bitcoin trades around $72,800 in ‘solid’ relief bounce supported by ETF inflows
Bitcoin rebounded to around $72,800, driven by strong ETF inflows and its role as a macro hedge amid geopolitical tensions.Summary
Bitcoin, Ether, and other major cryptocurrencies experienced gains on Sunday, with Bitcoin trading near $72,806, marking a "solid relief bounce." This appreciation is attributed to the return of strong inflows into crypto exchange-traded funds last week, which totaled $767.3 million for spot Bitcoin ETFs and $160.8 million for spot Ethereum ETFs. Analysts noted that the price surge was also supported by short squeezes and institutional accumulation following the halving. Despite ongoing geopolitical uncertainty, particularly surrounding the U.S.-Iran conflict and volatile oil prices, Bitcoin is demonstrating resilience as a "digital gold." Experts suggest this bounce needs sustained momentum to confirm a longer bull rally, with key support at $70,000-$71,000 and a potential surge toward $80,000 if the $73,000-$74,000 zone is broken. Traders are also watching for continued accumulation by large buyers like Strategy.
(Source：The Block)