Little bitcoin week down, back below $64,000. One week earlier, the BTC had rebounded by more than 6 per cent, but the purchase had failed to push the price-effective line of $64,000. The weak financial context, combined with the renewed warming of risks associated with shipping routes in the Middle East, has constrained demand for risky assets.
ETF is out for eight consecutive weeks.
The CoinGlass data show that the United States current bitcoin ETF combined net outflows of $526.64 billion last week, with the withdrawal of funds for eight consecutive weeks. This is also the longest rotation since the real bitcoin ETF was listed.
Continued redemption means that the willingness to allocate institutional funds against TTs has still not been clearly repaired. Despite the BTC rebound last week, if ETF continues to emerge this week, the market may still face new shocks.
The Holmuze Straits of Risk Repression.
The geologic situation is also an important reason for current market pressures. Prior to that, tensions between the United States and Iran had eased and led to a return of risk preferences, with Bitcoin rebounding. However, with the re-emergence of concerns related to the Straits of Hormuz, there has been a resurgence of cautious market sentiment.
It has been reported that Iran may impose new service charges on ships passing through the Strait of Hormuz, a practice that the United States and some Gulf allies continue to oppose. Because of its importance for global energy transport, the news has heightened market concerns about macro-risks and reduced the attractiveness of highly volatile assets such as encrypted assets.
$628.67 million as short-line critical support
In terms of price positions, bitcoin is still above the long-term support position. After rebounding last week, the BTC is back on a 200-week simple moving average at approximately $62,867. This level is considered to be a key reference for the continuation of the current rehabilitation trend.
If prices remain stable above this position, the market still has the opportunity to explore further in the vicinity of $65,520. However, in a shorter period of time, bitcoin is still below a number of major averages, including 50 days, 100 days and 200 days, indicating that the overall trend is not yet fully stronger.
For the moment, the proximity of $64,000 remains the first resistance. The rebound space may continue to be restricted if no effective breakthrough can be achieved; once US$ 62,867, the market or retesting of US$ 58,000, or even looking back at the lower point of US$ 57,800 during the year.