Bitcoin Surges to $69.5K on ETF Inflows, US Macroeconomic Boost

Bitcoin (BTC) rallied to a weekly excessive of $69,500 on Wednesday, surging from lows close to $62,400 in lower than 24 hours. The rebound aligned with renewed spot Bitcoin exchange-traded fund (ETF) inflows and firmer macroeconomic sentiment after the latest US coverage indicators helped regular broader danger markets.

Derivatives knowledge reveals that BTC’s open curiosity is falling and funding charges are staying comparatively contained, indicating the transfer was largely pushed by spot demand relatively than a buildup of leveraged positioning.

Bitcoin receives a macro increase and a constructive ETF flip

US President Donald Trump’s State of the Union handle on Tuesday night framed the primary 12 months of his management as an “financial turnaround for the ages,” highlighting falling mortgage charges and a 1.7% decline in core inflation over the ultimate three months of 2025.

Markets interpreted the remarks as an indication of diminished near-term coverage uncertainty following tariff and Supreme Court docket volatility, lifting the danger urge for food throughout equities and crypto.

The US spot Bitcoin ETFs recorded $257.7 million in web inflows on Tuesday, ending 5 consecutive weeks of redemptions totaling $3.8 billion. Constancy drew about $83 million, and BlackRock’s iShares Bitcoin Belief added shut to $79 million.

Related: Bitcoin daily gains near 5% as analysis eyes bullish ‘rotation’ from gold

Bitcoin futures knowledge clears extra draw back danger

As Bitcoin trades above $69,000, futures knowledge reveals that its aggregated open curiosity has stabilized round 235,167 BTC, after beforehand reaching ranges above 240,000 BTC earlier within the week.

The drop in open curiosity means that the surplus leveraged positioning has already been flushed out through the latest volatility.

On the similar time, aggregated funding charges stay barely destructive at -0.0037%. Adverse funding signifies that quick positions are nonetheless paying longs, signaling that merchants usually are not aggressively chasing upside publicity regardless of the value rally.

This mixture of cooling open curiosity and negative-to-neutral funding factors to a market that has reset leverage relatively than overheated. The rally towards $69,000 seems to be occurring with out an aggressive buildup of lengthy positioning.

The cumulative quantity delta (CVD) has edged increased, exhibiting that spot consumers are stepping in and are one of many main drivers of this rally. 

Market analyst BackQuant noted that derivatives exercise continues to be enjoying a big position, and choices knowledge reveals that sellers, the businesses that promote choices and hedge their publicity, are holding what’s often known as constructive gamma.

When gamma is constructive, sellers have a tendency to purchase as the value falls and promote as the value rises to keep hedged. That habits can easy out volatility and sluggish sharp breakouts in both path.

Likewise, dealer LP additionally pointed to BTC’s order ebook dynamics across the $60,000–$63,000 area, the place sturdy bid strain beforehand absorbed promoting. Since tapping that zone, the value has expanded roughly 8% to the upside. 

The dealer added that if promote strain builds once more at these ranges, it could sign a slowdown in buy-side aggression and set off one other decrease reversal.

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