Bitcoin Surges 8%, Breaks $73,000 as ETF Inflows Top $680 Million

[kim]

Bitcoin (BTC-USD) surged as much as 8% to move past $73,000, reaching its highest level in nearly a month after rebounding from a sharp drop tied to US and Israeli strikes on Iran over the weekend. The cryptocurrency had fallen to around $63,000 following the attacks but has since recovered as sentiment improved across risk assets. Ether also advanced, climbing as much as 9% to trade above $2,100 during the same stretch.

Part of the recovery appears to be tied to renewed institutional flows. US spot Bitcoin ETFs attracted more than $680 million over the past two days, according to data compiled by Bloomberg. At the same time, activity in derivatives markets increased, with CryptoQuant head of research Julio Moreno noting that open interest in perpetual futures rose alongside prices, a sign that traders may have been opening fresh long positions after Bitcoin spent roughly a month consolidating.

Even with the rebound, the broader picture remains mixed. Bitcoin is still about 40% below its October peak after a months-long selloff, though it has recently outperformed gold by rising roughly 10% since Friday while the precious metal declined about 2% over the same period. Analysts caution that volatility tied to the ongoing conflict between Israel and Iran, now in its fifth day with continued airstrikes and missile exchanges, means the recovery in digital assets could remain fragile as investors continue to monitor geopolitical risks.
source: https://www.tradingview.com/news/gurufocus:b526c0f7d094b:0-bitcoin-surges-8-breaks-73-000-as-etf-inflows-top-680-million/