Bitcoin's price rebounded after finding support near USD 55,000, potentially attracting large investors. MicroStrategy's massive Bitcoin holdings exceeding USD 1 billion contributed to overall investor confidence.
Investments in Bitcoin ETFs saw a shift from outflows to inflows, though relatively limited. Continued inflows could help bolster the market amidst recent significant outflows totaling USD 554 million.
A risk-on approach by investors post-concerns of a US recession might lead to more gains in the market. Monitoring new economic data and monetary policy direction is essential for investors moving forward.
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