- Bitcoin’s price climbed more than 4% to roughly $69,100 as risk assets steadied following a retreat in oil prices.
- U.S. spot Bitcoin ETF inflows have strengthened, rising to about $934 million, an increase of $158 million from the prior week.
- Analysts note the market is showing early signs of stabilizing, with improving momentum and demand, though the recovery remains tentative.
Bitcoin’s market structure is showing initial signs of stabilization after weeks of pressure, as the cryptocurrency climbed over 4% to around $69,100 on Monday. This rebound coincided with risk assets steadying after crude oil retreated from a spike caused by escalating Middle East tensions, according to a new market note from on-chain analytics firm Glassnode.
The firm stated in its weekly market pulse published Monday that internal metrics suggest the worst recent stress may be easing, but “the recovery remains ‘tentative.'”
“Overall, conditions are stabilizing, with momentum, ETF demand, and profitability metrics improving,” the firm wrote. However, price momentum still lacks the strength of a decisive bullish shift.
Geopolitical turmoil had previously unsettled global markets, with crude prices surging on fears the conflict could disrupt shipments through the Strait of Hormuz. Consequently, Brent crude briefly spiked to around $119.50 a barrel before retreating after President Donald Trump suggested the war involving Iran might soon de-escalate.
Meanwhile, futures open interest and aggressive buying in perpetual markets suggest traders are cautiously returning to leveraged positions. ETF flows have also risen to $934 million, up $158 million from the week prior.
In an investor note, analysts at QCP Capital wrote that Bitcoin’s practical use as a “‘digital escape hatch'” is growing increasingly relevant. They added, “Although its long-term trajectory remains uncertain, recent price action against a backdrop of escalating tensions suggests growing recognition of this function.”
However, other indicators reveal fragility in the recovery. Spot trading volumes remain subdued and broader network activity has waned, pointing to limited participation.
Capital flows remain soft according to the report, indicating broader conviction has yet to fully return.
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