Bitcoin Price News: BTC Moves on Macro Relief as ETF Outflows and Whale Caution Dominate Flow Picture

The Bitcoin price moved to $73,838.71 during the last 24 hours and posted gains of 1.19% while the entire cryptocurrency market rose by 1.34%. The recent move was in tandem with that of the S&P 500, and this indicates that risk-on assets were being driven by macro factors rather than crypto-specific forces.

Bitcoin Price News: BTC Moves on Macro Relief as ETF Outflows and Whale Caution Dominate Flow Picture. The Bitcoin price moved to $73,838.71 during the last 24 hours and posted gains of 1.19% while the entire cryptocurrency market rose by 1.34%. The recent move was in tandem with that of the S&P 500, and this indicates that risk-on assets were being driven by macro factors rather than crypto-specific forces. A major factor that drove the recent upside was the geopolitical calming following the removal of the U.S. naval blockade in the Strait of Hormuz. That reduced a major energy supply risk and removed pressure from risk assets across both traditional markets and crypto. Bitcoin reacted quickly, moving back toward the $74,000 zone after the announcement. ETF Outflows Cross $4 Billion in Three Weeks Institutional flow data from Santiment...