Bitcoin has regained strength around $74,000 after several days of pressure, driven by a recovery in the US stock market and strong inflows into Bitcoin spot ETFs.
At the time of writing, Bitcoin is currently trading at $74,342, down 0.02% since it opened early Tuesday in Asian trading.
In just two days, the ETF has seen around $615 million in net inflows, signaling that institutional investor interest remains high.
At the same time, the world’s largest Bitcoin investment firm, Strategy, has continued to add to its holdings by buying nearly 13,927 BTC worth around $1 billion.
The move reinforces the belief that institutional players still see Bitcoin’s long-term potential despite the market volatility.
However, this upward momentum has not come without challenges. Selling pressure from Bitcoin miners has been a major factor limiting price gains.
Companies such as MARA Holdings, Riot Platforms and Cango have reportedly sold thousands of Bitcoins in a month, increasing the supply in the market.
In addition, derivatives market data shows that sentiment is not yet truly bullish, with Bitcoin futures premiums at low levels.
This indicates that investors are still cautious and not ready to take on large risks.
At the same time, Bitcoin continues to move in line with global macroeconomic factors, including geopolitical tensions and stock market movements such as the S&P 500.
