Bitcoin is up 0.79% in the last 24 hours at $67,458.64. Its market cap is over $1.34 trillion, with $37.3 billion worth of BTC changing hands in the past day. Reports noted BTC at $66,124.97 in early trading, up about 1.65% at that point. The fact that it climbed further shows buyers are stepping in rather than running for the exits.
Bitcoin’s institutional reputation as a store of value, similar to gold, is likely drawing defensive capital flows from investors looking to park money outside of oil-exposed assets. With the Crypto Fear & Greed Index sitting at 17 (extreme fear), history suggests this is usually a zone where long-term buyers accumulate rather than sell.
Nischal Shetty, Founder of WazirX, echoed this sentiment, noting, “The resistance of $70,000, which was crossed last week, seems reachable if liquidity expectations in the US are aligned as per expert projections. Interestingly, in the last two weeks, inflows in BTC and ETH spot ETFs have seen positive weekly inflows, with the last week recording $568.45 million and $23.56 million, respectively. The current $67,000 levels could continue to hold with the larger market sentiment tightening amidst ETF inflow gains. However, a further drop from this level could dampen sentiments.”
Harish Vatnani, Head of Trade of ZebPay, commented on BTC’s technicals. He stated, “Bitcoin approached the weekly close under pressure, struggling to reclaim its 200-day exponential moving average (EMA), a key level it has repeatedly failed to hold as support, raising the risk of it turning into resistance. Macro tensions are also in focus. With no signs of de-escalation in the US-Iran war, WTI crude futures jumped nearly 19% to their highest level in about four years. The sharp move in oil has pushed traders to closely watch inflation expectations and broader risk sentiment. Despite the uncertainty, institutional demand for Bitcoin is showing signs of recovery.”