Bitcoin climbed above $75,000 during Asian trading on Tuesday, marking its highest level since early February and extending its longest winning streak since the 2024 bull market breakout.
The asset rose 3% over 24 hours to trade above $75,000 at 1:30am UTC, bringing its rebound to roughly 25% from February lows near $60,000 triggered by Iran conflict-driven market volatility.
Polymarket pricing now implies a 56% probability that Bitcoin will reach $80,000 this month, reflecting growing bullish sentiment as capital appears to rotate away from gold.
On-chain data shows tightening supply conditions, with exchange inflows dropping sharply, particularly on Binance, while the Bitcoin Exchange Whale Ratio has climbed to a six-year high, signalling increased activity from large holders.
Institutional demand has also strengthened, with US spot Bitcoin ETFs attracting approximately $2.1 billion in net inflows over three weeks, reinforcing the view that fresh capital is entering the market, and following the announcement Bitcoin price was up at $75,000.
Gold has weakened below $5,000 while Bitcoin gained around 7% over the same period, fuelling speculation of capital rotation, although analysts warn that elevated prediction market probabilities above 60% have historically preceded short-term corrections.
Macro uncertainty remains a key risk, with elevated energy prices and the upcoming Federal Reserve rate decision expected to shape near-term direction, even as Bitcoin continues to outperform equities and commodities amid geopolitical tensions.
At the time of reporting, Bitcoin price was $75,733.75.