Bitcoin's price experienced a surge of over 6%, approaching $70,000 as the U.S. market opened, even as broader markets showed risk-off behavior. According to reports, oil prices increased due to Middle East tensions, and equities initially fell. However, Bitcoin defied this trend. Liquidation data indicated a balanced market with $221 million in long liquidations and $203 million in short liquidations, suggesting the price increase wasn't due to a short squeeze. The rise is attributed to increased liquidity during U.S. trading hours and the reactivation of institutional venues. The CME premium spiked, signaling U.S.-driven demand. The influence of ETF flows and hedging activities also played a significant role in Bitcoin's price movement.

Bitcoin's price experienced a surge of over 6%, approaching $70,000 as the U.S. market opened, even as broader markets showed risk-off behavior. According to reports, oil prices increased due to Middle East tensions, and equities initially fell. However, Bitcoin defied this trend. Liquidation data indicated a balanced market with $221 million in long liquidations and $203 million in short liquidations, suggesting the price increase wasn't due to a short squeeze. The rise is attributed to increased liquidity during U.S. trading hours and the reactivation of institutional venues. The CME premium spiked, signaling U.S.-driven demand. The influence of ETF flows and hedging activities also played a significant role in Bitcoin's price movement.