$BTC Bitcoin ETFs record a five-day streak of inflows amid geopolitical tensions.
The fact that Bitcoin remains steady around $105,000 despite recent geopolitical and economic crises suggests a sign of strength and confidence from investors.
Bitcoin exchange-traded funds (ETFs) BTC 91,280 € recorded five consecutive days of inflows, despite the recent geopolitical turmoil caused by the conflict between Israel and Iran.
According to data from Farside Investors, the streak began on Monday, June 9, with inflows of over $386 million, and continued until Friday, with an additional $301 million in inflows. In total, over $1.3 billion in capital moved into Bitcoin ETFs in the last five days.
The price of Bitcoin has shown its resilience following Israeli airstrikes against Iran, dropping approximately 3% in response to the news. Coin Bureau founder Nic Puckrin said:
"In the long term, what matters most for Bitcoin is not geopolitics, but the US dollar index (DXY), and the DXY just broke below 100, its lowest level in over three years. It is clear that the US dollar is only going in one direction, and Bitcoin usually goes in the opposite".
Despite this, the analyst warned that risk assets could suffer a significant price drop in the short term if Iran decides to close the Strait of Hormuz, a narrow waterway through which 20% of the world's oil supply passes.
