#BTC突破107,000美元#  Bitcoin nears $108,000: Moody's effect, decreasing supply and ETF inflows support the rally.

Investors' search for safe havens in Bitcoin at a time of increasing global economic uncertainty has created a strong upward wave in the cryptocurrency. Bitcoin rose to the $108,000 mark with a 1% increase today and is only 1.5% away from $109,300. However, Bitcoin, which saw a sell-off in the last hour, fell to the $107,000 mark.
Bitcoin, which has been consolidating between $102,000-106,000 for the last two weeks, has begun testing new peaks by climbing above this narrow band. Bitcoin, which has gained approximately 40% in the last six weeks, has closed above $100,000 for 11 days.
Moody's downgrade and macro developments have increased demand for crypto.
The impact of macroeconomic and geopolitical developments is felt among the main factors supporting the rise in Bitcoin. The downgrade of the US credit rating by Moody's has shaken confidence in traditional financial systems. This development has increased demand for Bitcoin by directing investors to alternative investment vehicles.
At the same time, the decrease in trade tensions between the US and China has led to an increase in risk appetite, while high inflation data is weakening the purchasing power of fiat currencies. The US Federal Reserve's slow progress in interest rate cuts causes real interest rates to remain high, which highlights Bitcoin as a hedge against inflation.
ETF inflows support the rally.
Interest in spot Bitcoin exchange-traded funds (ETFs) has become a key indicator of momentum in crypto assets. On May 20, spot Bitcoin ETFs recorded net capital inflows for the fifth consecutive day, indicating continued interest from investors. Spot Ethereum ETFs also followed a positive trend with a total inflow of $64.9 million for three consecutive days during the same period.
According to the analysis, the market is not yet overly enthusiastic in data based on investor profit-loss ratios.
The 30-day moving average is currently at 99, and a reading above 200 would signal overheating. This indicates that there is still room for further upside in the market.
Bitcoin and Ethereum supply on exchanges at low levels in recent years.
The supply of Bitcoin and Ethereum on exchanges has fallen to its lowest levels in recent years. This indicates that investors have started to withdraw their assets from exchanges for long-term storage and that selling pressure has decreased. Bitcoin's stock market supply fell to 7.1%, reaching its lowest level since November 2018.
Similarly, Ethereum's stock market supply fell below 4.9%, reaching its lowest level in the last 10 years. Approximately 15.3 million ETH and 1.7 million BTC have been removed from exchanges in the last five years. This indicates that the market's confidence in future price increases has increased and that selling pressure may decrease in the short term.
Demand for investment products is increasing.
Demand for Bitcoin and Ethereum investment products is considered another indicator of the upward trend in the market. Spot Bitcoin ETFs in the US have attracted hundreds of millions of dollars in investments, recording positive capital inflows in eight of the last ten trading days. Spot Ethereum ETFs have also stood out with similarly consistent inflows.
According to the weekly digital asset fund flow report, there has been a net capital inflow into digital asset investment products for five consecutive weeks. During this period, Bitcoin and Ethereum funds in particular have seen remarkable inflows. The increasing turn of investors towards crypto signals the sustainability of the upward movement in the markets.