The analyst noted that Bitcoin had shown resilience in the context of the escalating situation between the United States and Iran and the inflow of ETF funds, suggesting that marginal sellers might have withdrawn from the market. Bitcoin prices have stabilized at over $62,000, indicating that the recent "weak hands" seller may have run out.
Recently, the published Bitcoin ETF attracted $197.4 million in investment funds, ending eight consecutive weeks of outflows. According to the analysts, both the inflow of ETF funds and the slowdown in spot market activity indicated a weak seller.
Despite the warming of the market, price recovery was driven mainly by derivative traders, and the participation of off-the-shelf buyers remained inadequate. Analysts warned that the lack of strong buyer liquidity could lead to price trends being maintained over the coming months.
Market sentiment still needs to be cautious under the influence of forthcoming macroeconomic data.