$BTC In recent days, Bitcoin (BTC) has experienced notable developments that have directly impacted market movements. Here are the key highlights:

1. Strong Price Movements

Bitcoin’s price surged over the past week, approaching the $70,000 mark again, fueled by growing institutional demand and continued optimism about the crypto market’s future.

The market reacted positively to recent U.S. inflation (CPI) data, as a slowdown in inflation increased expectations of a potential interest rate cut by the Federal Reserve.

2. Rising Institutional Interest

Bitcoin-related ETFs, especially in the U.S., have recorded positive inflows, reflecting increasing confidence among institutional investors.

Major players like BlackRock, Fidelity, and Grayscale have strengthened their positions in the market, signaling long-term interest in digital assets.

3. Regulatory Developments

The European Union officially approved the first phase of its MiCA regulatory framework, offering legal clarity for crypto operations across Europe.

Meanwhile, the U.S. SEC remains cautious about approving new Ethereum ETF applications, creating uncertainty and investor anticipation.

4. Supply and Demand Trends

On-chain data shows a declining supply of Bitcoin on exchanges, indicating that more investors are transferring their holdings to cold wallets — a bullish sign suggesting long-term holding.

5. Technical Analysis

Technically, Bitcoin is trading within an upward channel and facing strong resistance near $71,000. A breakout above this level could trigger another bullish wave.

Key support lies near $65,000, with RSI and MACD indicators showing moderately positive signals.