Bitcoin Breaks $70K Again Amid ETF Inflows and Fed Optimism
Crypto Markets Surge as Institutional Confidence Grows
Bitcoin (BTC) has once again surged past the $70,000 mark, driven by renewed institutional inflows into spot Bitcoin ETFs and growing optimism about potential Federal Reserve rate cuts later this year.
According to CoinShares, digital asset investment products saw over $500 million in net inflows this week, the highest since March 2024. BlackRock’s iShares Bitcoin Trust (IBIT) led the pack, recording $275 million in daily inflows on Monday.
Ethereum (ETH) also rallied, climbing 4.8% to hover near $3,900 after hints that the SEC might greenlight a spot Ether ETF by early June. Altcoins like Solana ($SOL ), Chainlink ($LINK ), and Avalanche ($AVAX ) followed with double-digit weekly gains.
Analysts point to macroeconomic trends, such as declining inflation data and dovish signals from the Fed, as key catalysts supporting the bullish sentiment.
"We’re seeing the perfect storm of regulatory clarity, institutional interest, and favorable macro trends,” said Jenna Li, lead strategist at BlockWave.
Market Snapshot (as of 10:00 UTC):
BTC: $70,450 (+3.2%)
ETH: $3,890 (+4.8%)
SOL: $186 (+7.5%)
Total Market Cap: $2.95 Trillion
Bitcoin and Ethereum price lines spiking upward
Background: Federal Reserve building + ETF logos
Caption: “Crypto markets surge on ETF inflows and Fed rate cut hopes”
