"Bitcoin has shown resilience, largely supported by institutional demand. On Wednesday, spot Bitcoin ETFs recorded a third consecutive day of inflows, adding USD 115 million. Last week, BTC ETFs attracted around USD 568 million. Meanwhile, Strategy added nearly 18,000 BTC to its treasury last week, underscoring its ongoing conviction."
"The cryptocurrency could remain at risk with sentiment leaning toward caution amid the developments in the Middle East. Escalating tensions in the region have driven crude oil prices higher, raising concerns about inflation pressures. In response, US Treasury yields have climbed to multi-week highs, tightening financial conditions and creating a difficult backdrop for non-yielding risk assets such as Bitcoin."
"Several structural developments may also support longer-term sentiment. Legislative discussions in Washington continue around a comprehensive crypto market framework. Together, these factors could play in favour of cryptocurrencies and help counterweigh the impact of geopolitical tensions."
Bitcoin is trading near $70,000 while consolidating since early February, facing pressure from Middle East tensions that have elevated crude oil prices and inflation concerns. Rising US Treasury yields have tightened financial conditions, creating challenges for non-yielding assets like Bitcoin. However, institutional support remains strong, with spot Bitcoin ETFs recording three consecutive days of inflows totaling $115 million on Wednesday and approximately $568 million last week. MicroStrategy added nearly 18,000 BTC to its treasury, demonstrating continued institutional conviction. Legislative discussions in Washington regarding a comprehensive crypto market framework provide additional support for longer-term sentiment and may help offset geopolitical headwinds.
Read at London Business News | Londonlovesbusiness.com
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