Now Reading: Bitcoin Stays Above $64,000 as ETF Inflows Offset Profit-Taking
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Bitcoin Stays Above $64,000 as ETF Inflows Offset Profit-Taking
Bitcoin Stays Above $64,000 as ETF Inflows Offset Profit-Taking
Bitcoin remained range-bound near $65,000 on Thursday, with steady spot Bitcoin ETF inflows helping absorb profit-taking by long-term holders, Gadgets360 reports. Analysts said institutional demand continues to support the cryptocurrency, while macroeconomic…
The Story in Brief
Bitcoin remained range-bound near $65,000 on Thursday, with steady spot Bitcoin ETF inflows helping absorb profit-taking by long-term holders, Gadgets360 reports. Analysts said institutional demand continues to support the cryptocurrency, while macroeconomic conditions and liquidity indicators may decide whether it breaks out of its recent range.
A day earlier, Bitcoin traded above $64,000 as easing geopolitical tensions and lower oil prices improved sentiment, according to Gadgets360. Subdued spot-market activity and cautious derivatives positioning capped gains. Traders are awaiting Friday’s US employment report for a fresh cue, while lower oil prices have added some support to risk appetite.
The Indian Opinion
Claims that ETF inflows have put Bitcoin on an unstoppable upward path overlook the flat price range and profit-taking. The opposite claim, that lower oil prices alone are driving the market, is just as thin. Demand from institutions is supportive, but cautious derivatives trading and weak spot activity show that conviction is limited. Friday’s US employment report, followed by Bitcoin’s ability to hold above $64,000, offers a clearer test than daily headlines.
Sources (2): gadgets360.com, gadgets360.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
