Key Takeaways:
- Renewed spot ETF net inflows and derivatives short-covering fueled rebound.
- Heavy short concentration near $22.6B open interest primed a squeeze.
- $72,000 remains validation threshold; sustainability needs consistent demand, not one-offs.
Bitcoin’s rebound to $72,000 coincided with renewed spot ETF net inflows and a short-covering impulse in derivatives. Market positioning turned more supportive as the $71,000–$72,000 band was tested, a known trigger zone for a short squeeze.
According to CryptoQuant analyst Axel Adler, open interest hovered near $22.6 billion with a heavy concentration of shorts, creating conditions for a potential squeeze if resistance gave way. That setup meant even modest upside could force covering and amplify the move.
While flows and positioning likely contributed, causality cannot be proven from a single session. The $72,000 resistance remains a validation threshold, and sustainability would hinge on consistent demand rather than one-off spikes.
AInvest reported roughly $1.1 billion of net inflows into U.S. spot Bitcoin ETFs across three sessions, including a single-day tally near $458 million. Those additions helped reclaim, but not decisively conquer, the $72,000 resistance.
CoinTurk News, citing Enflux analysts, highlighted more than $683 million in two-day net inflows and noted BlackRock’s iShares Bitcoin Trust (IBIT) as a major contributor. After the flows accelerated, many shorts were “rushed to be covered,” the team said.
As reported by Crypto.news, Bitcoin has reclaimed the $72,000 level in recent trading, aligning with the pickup in ETF demand and positioning dynamics. Whether the level holds will depend on the persistence of daily net inflows.
Disclaimer: CoinLineup.com provides cryptocurrency and financial market information for educational and informational purposes only. The content on this site does not constitute financial, investment, or trading advice. Cryptocurrency and stock markets involve significant risk, and past performance is not indicative of future results. Always conduct your own research and consult a qualified financial advisor before making any investment decisions.
