Bitcoin Surges Past $97,000 Amid ETF Inflows, Cautious Sentiment Persists
- Bitcoin (BTC) price increased by 5.5%, reaching over $97,000, its highest in more than two months.
- The surge followed $840 million in inflows into spot Bitcoin ETFs on Monday and Tuesday.
- Despite the rally, Bitcoin remains approximately 23% below its all-time high of $126,219.
- The BTC options delta skew is at a stable rate of 4%, indicating professional traders are still cautious.
- Geopolitical tensions and falling treasury yields contribute to a risk-off environment limiting Bitcoin’s upside potential.
Investor sentiment remains mixed as Bitcoin’s recent gains contrast with the struggling Nasdaq Index, which has failed to reclaim key levels since late last year. The current geopolitical climate and economic uncertainties are leading traders to adopt a cautious approach towards cryptocurrencies.
With Bitcoin trading above $96,000 but still facing skepticism about sustaining a rally towards $105,000, market participants are closely monitoring broader economic indicators and sociopolitical risks.(Source)
