Bitcoin holds near multi-week highs as ETF inflows offset macro headwinds
Today’s markets analysis on behalf of Konstantinos Chrysikos Head of Customer Relationship Management at Kudotrade
Bitcoin stabilized near USD 73,000 on Friday after a strong rally the previous day pushed the cryptocurrency to its highest level in several weeks. Spot Bitcoin ETFs recorded inflows for a third consecutive session, attracting nearly USD 462 million on Wednesday and bringing total inflows since the beginning of the month to roughly USD 1.15 billion. These flows suggest that institutional investors are selectively rebuilding exposure after months of intermittent outflows. Derivatives data reinforces this constructive tone as short liquidations exceeded longs over the past 24 hours.
However, the rally may face constraints while macro conditions remain challenging. Persistent geopolitical tensions in the Middle East, alongside a strong US dollar and elevated Treasury yields, continue to limit risk appetite. In addition, expectations that the Federal Reserve may maintain a cautious stance in 2026, supported by resilient US economic data, could cap the upside potential. Friday’s US nonfarm payrolls report will therefore be closely watched as investors recalibrate interest rate cut expectations and assess the durability of Bitcoin’s rebound.
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