There are several factors that have contributed to the rise in the price of Bitcoin (and the crypto market in general) in recent days, including today:

* Easing geopolitical tensions: A ceasefire agreement between Israel and Iran, announced on June 24, has reduced fears of an escalation of the conflict in the Middle East. This has increased investors’ risk appetite, causing them to move their capital back into riskier assets such as cryptocurrencies.

* Continued inflows into Bitcoin Spot ETFs: US-based Bitcoin spot exchange-traded funds (ETFs) have seen significant capital inflows recently. This increased demand for regulated exposure to Bitcoin is boosting investor confidence in the market. On June 27, Bitcoin spot ETFs saw a net inflow of $501 million.

* Short Liquidation: A large amount of short positions (bets on the price falling) were liquidated, which led to a "short squeeze" and amplified the rise in Bitcoin's price.

* Positive performance of traditional markets: The record rise in the S&P 500 index fueled optimism for Bitcoin, suggesting a growing correlation between the two markets.

Technically, Bitcoin has shown strong resistance and signs of a continuation of the upward trend, with analysts anticipating new all-time highs. A reduction in interest rates by the Federal Reserve in September is also expected, which could further stimulate the crypto market.

In short, a combination of favorable macroeconomic factors, strong inflows from institutional investors and optimal technical indicators have contributed to pumping up the price of Bitcoin.