Bitcoin Struggles Amid Geopolitical Tensions and High Inflation
- Bitcoin (BTC) is trading around $66,600, unable to break above $67,000.
- Brent crude oil prices surged to $120 per barrel due to geopolitical tensions.
- Inflation in Europe has risen to 2.5%, driven by increased energy costs.
- Institutional inflows into Bitcoin ETFs totaled $22 million this week despite overall demand flipping negative.
- Wallets holding between 1,000 and 10,000 BTC have distributed nearly 188,000 BTC since last year’s peak.
The current market environment shows a divide between institutional interest in Bitcoin ETFs and declining demand from larger holders, indicating potential volatility ahead of the Good Friday holiday.
As Bitcoin remains under pressure with nearly half of its circulation trading at a loss, liquidity is expected to remain thin during the long weekend. (Source)
