Bitcoin Holds $62,000 Support as Spot ETF Inflows Return After 8-Week Outflow Streak

BTC3.68%
According to Wintermute, Bitcoin held its $62,000 support level and surged toward $64,000 after recent U.S. inflation data came in below expectations, despite headwinds from U.S.-Iran geopolitical tensions and institutional selling. An eight-week streak of outflows from spot Bitcoin ETFs has turned into inflows, and the cryptocurrency's ability to absorb large sell orders without triggering liquidation cascades suggests potential bottom formation. However, Wintermute cautioned that a single week of positive ETF flows does not yet confirm a trend reversal. The market has halted its decline but has not begun a sustained recovery. Key variables to monitor include upcoming CPI data, Federal Reserve policy stance, sustainability of ETF inflows, and developments in the Strait of Hormuz.
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