Why Bitcoin Just Bounced Back to $70K: Key Factors Behind the Move

TLDR: Bitcoin saw macro relief as the PCE inflation print came in at ~2.8% YoY, matching expectations and easing pressure on risk assets. A U.S. 30-day oil sanction waiver cooled energy markets, reducing inflation fears and boosting investor risk appetite. Spot Bitcoin ETFs recorded multiple consecutive inflow days, with BlackRock’s IBIT leading institutional demand signals. [...]

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