Bitcoin holds US$62K as ETF inflows return
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- Bitcoin stayed above US$62,000 despite growing tensions between the US and Iran.
- Spot Bitcoin ETFs recorded US$197 million in net inflows after eight weeks of withdrawals.
- Analysts say Bitcoin must break US$65,000 to confirm stronger upward momentum.
Bitcoin (CRYPTO:BTC) held above US$62,000 as investors returned to spot Bitcoin ETFs despite rising tensions between the US and Iran.
US spot Bitcoin ETFs attracted US$197 million in net inflows, ending eight straight weeks of net withdrawals.
BlackRock's IBIT led the inflows with about US$292 million, while Grayscale's GBTC recorded about US$108 million in outflows.
Analysts said Bitcoin remains supported above US$60,000, but sellers continue defending the US$65,000 level.
Rising oil prices and uncertainty in the Middle East increased volatility across global stocks, bonds and commodities.
Analysts said Bitcoin's next move will depend on ETF demand, market liquidity and whether it can close above US$65,000.
At the time of reporting, Bitcoin price was $62,791.78.
