Over the past couple of weeks, Bitcoin has gained more than 7% and is now trading near the psychologically important $75,000 level.
Among the key drivers behind this rally are massive capital inflows into spot BTC exchange-traded funds (ETFs). The last seven days showed that investments into the main crypto returned despite headwinds and external shocks. Their total exceeded $771 million, marking the best result in three months and offering a clear signal of a trend reversal after a prolonged period of outflows. Major players once again view Bitcoin as a reliable diversification tool in their portfolios amid turbulent times in traditional finance, building a solid floor beneath BTCUSD.
Geopolitical jitters continue to send shockwaves through global markets and increase volatility. The US President's decision to block the Strait of Hormuz following failed peace talks between America and Iran pushed crude prices above $100 per barrel, intensified inflation fears, and put short-term pressure on all risky assets, including cryptocurrencies. As a result, Bitcoin briefly dipped below $71,000. However, hefty inflows into ETFs quickly offset these losses and lifted prices back to current levels.
From a technical standpoint, BTCUSD is now knocking on a resistance door that has slammed shut twice before. Meanwhile, momentum indicators point to a potential break above this threshold, with a subsequent surge to the next milestone at $82,000.
The ultimate recommendation is to buy Bitcoin at the current price, targeting $82,000 within two to three weeks. To mitigate the risk of adverse market movements, place a Stop Loss order 1% below the entry point.
This content is for informational purposes only and is not intended to be investing advice.
