I just saw the Bitcoin ETF data today - the inflow is quite significant. Yesterday, more than 240 million dollars entered the US spot Bitcoin ETF, mainly BlackRock IBIT which absorbed 137 million. Fidelity also participated with 78 million. This shows that institutions are still aggressively accumulating, as the BTC price was temporarily pressured but remains above 72,000.

Now BTC has risen to the 78,000 zone, which means a fairly solid recovery from the lowest levels a few weeks ago. But analysts still have different opinions. Some say BTC could push to 80-85 thousand if a breakout around 73-74 thousand succeeds. Conversely, if it fails, it could drop to 66 thousand or even 60 thousand. So basically, BTC is at a critical point.

What’s interesting is that the derivative positions show large speculators are heavily long, while commercial traders are actually short. The combination of strong Bitcoin ETF inflows with this kind of speculative setup usually leads to high volatility. So if you’re trading, be cautious around the support area of 72-74 thousand. If it breaks upward, momentum could continue. If it rejects, be prepared for a deeper pullback. The market is currently in a long-term consolidation phase, so Bitcoin ETF movements will be key to watching which direction will be taken.