World’s largest cryptocurrency steadies after Iran-linked volatility, with institutional demand and ETF inflows driving a one-month high
Bitcoin extended its rally on Thursday, holding firmly above the $72,000 mark as improving global risk sentiment and sustained inflows into US spot exchange-traded funds (ETFs) lifted the broader cryptocurrency market.
Data from CoinGecko showed Bitcoin trading at $72,288.90, up 5.1 per cent over the past 24 hours. The token moved in a range of $68,759.83 to $73,952.99 during the session.
The latest move places Bitcoin in the $72,000–$73,000 band, marking a sharp recovery from last month’s dip near $63,000 and pushing the digital asset to a one-month high.
ETF inflows, institutional demand underpin rally
According to data compiled by Bloomberg, nearly $700 million has flowed into US-listed Bitcoin ETFs so far in March, underscoring renewed institutional appetite despite geopolitical tensions in the Middle East.
“Bitcoin is trading around $72,000–$73,000, extending its recent rally after recovering from last month’s dip near $63K. The move higher has been supported by strong inflows into U.S. spot Bitcoin ETFs and renewed institutional demand, which helped push prices to a one-month high,” the CoinSwitch Markets Desk said.
The desk added that despite ongoing geopolitical tensions and macro uncertainty, investors continue to allocate capital to crypto alongside gold and other alternative assets.
Market participants say shifting expectations around global liquidity conditions have also played a role in lifting digital assets, particularly after markets were rattled earlier in the week by US and Israeli strikes on Iran.
Retail focus on key technical levels
Analysts note that for retail traders, the $70,000 mark has now emerged as a key support level, while the $74,000–$75,000 zone could act as the next resistance if the rally continues.
Bitcoin’s market capitalisation currently stands at approximately $1.445 trillion, with 19,998,040 coins in circulation out of a maximum capped supply of 21 million. Trading volumes crossed $78 billion over the past 24 hours, signalling heightened participation.
Ethereum, altcoins join gains
The broader crypto market also strengthened. Ethereum was trading in the $2,050–$2,070 range, while most major altcoins posted gains as overall sentiment improved.
In recent days, Bitcoin has also outperformed gold — a notable shift given that the two assets are often compared as alternative stores of value. Since the strikes last weekend, gold has slipped while Bitcoin has advanced sharply, highlighting renewed risk appetite within the digital asset space.
Still, analysts caution that trading could remain choppy amid persistent geopolitical risks and macro uncertainty. For now, however, sentiment appears to have turned constructive, with ETF inflows, institutional participation and technical momentum combining to keep Bitcoin comfortably above the $72,000 mark.
End of Article
Leave a Reply