Bitcoin nears $72,000 as spot BTC ETF inflows extend despite risks from US-Israel war with Iran
Bitcoin approached $72,000 due to continued spot BTC ETF inflows, even with geopolitical risks and delayed rate cut expectations.Summary
Bitcoin's price rebounded to near $72,000 on Wednesday, despite ongoing geopolitical tensions in the Middle East and shifting expectations for interest rate cuts. This increase coincided with renewed investment in U.S.-listed spot Bitcoin ETFs, with approximately $225 million in net inflows recorded on March 3rd, following $458 million the previous day. While derivatives positioning shows increased leverage, analysts note the market has absorbed geopolitical headlines relatively well. However, experts caution that ETF flows don't perfectly correlate with immediate spot buying and that geopolitical factors, particularly concerning energy supply through the Strait of Hormuz, remain a key risk. Overall, investor sentiment appears to be shifting towards seeking entry points despite macro uncertainty.
(Source：The Block)