Bitcoin gains momentum as spot BTC ETF inflows and stable derivatives data offset investor concerns about war and inflation.
Key points:
Bitcoin shows strength amid tensions in the Middle East and rising oil prices.
Inflow into spot BTC ETFs and neutral derivatives markets indicates stable confidence in the market.
Bitcoin (BTC) regained $108,000 on Monday after retesting the support level of $104,000 over the weekend. Gains came as conflict erupted in the Middle East and investors scaled back expectations for interest rate cuts in the United States, indicating increased confidence in Bitcoin's bullish potential.
Trader sentiment remained stable despite worsening socioeconomic outlooks, as shown by Bitcoin's derivatives metrics.
