#BTC
Bitcoin Price Forecast: BTC stalls around $80,000 as geopolitical tensions dampen risk appetite
Bitcoin hovers around $80,500 on Monday after three straight weeks of correction.
US-listed spot ETFs recorded $301 million in net inflows last week, breaking a two-week outflow streak.
Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.
Bitcoin (BTC) hovers around $80,500 at the time of writing on Monday, after extending its correction for three consecutive weeks. Despite this price weakness, institutional demand showed signs of a comeback with spot Exchange Traded Funds (ETFs) recording $301.2 million in net inflows last week, breaking a two-week outflow streak.
However, rising crude oil prices and escalating geopolitical tensions in the Middle East continue to fuel inflation concerns and dampen risk appetite, keeping pressure on the Crypto King.
Institutional demand shows early signs of a comeback
Institutional demand showed some signs of optimism last week, despite the price pullback. CoinGlass Bitcoin spot ETFs recorded a net inflow of $301.2 million last week, breaking a two-week outflow streak. Despite this improvement in demand, BTC price continued its pullback, down over 2% last week and ending with three straight weeks of correction since early October. If these inflows continue and intensify through this week, they could help cushion the ongoing price decline.
Geopolitical tensions and rising oil prices weigh on BTC
Crude oil prices have jumped to the highest level since September 15, with West Texas Intermediate (WTI) reaching $103.28 per barrel on Friday amid supply concerns driven by attacks in Saudi Arabia and tensions involving Iran.
In the latest developments, the Iran-backed Houthis in Yemen vowed on Sunday that they will keep attacking Saudi Arabia's King Khalid Airport in Riyadh.
Bitcoin Price Forecast: BTC stalls around $80,000 as geopolitical tensions dampen risk appetite
Bitcoin hovers around $80,500 on Monday after three straight weeks of correction.
US-listed spot ETFs recorded $301 million in net inflows last week, breaking a two-week outflow streak.
Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.
Bitcoin (BTC) hovers around $80,500 at the time of writing on Monday, after extending its correction for three consecutive weeks. Despite this price weakness, institutional demand showed signs of a comeback with spot Exchange Traded Funds (ETFs) recording $301.2 million in net inflows last week, breaking a two-week outflow streak.
However, rising crude oil prices and escalating geopolitical tensions in the Middle East continue to fuel inflation concerns and dampen risk appetite, keeping pressure on the Crypto King.
Institutional demand shows early signs of a comeback
Institutional demand showed some signs of optimism last week, despite the price pullback. CoinGlass Bitcoin spot ETFs recorded a net inflow of $301.2 million last week, breaking a two-week outflow streak. Despite this improvement in demand, BTC price continued its pullback, down over 2% last week and ending with three straight weeks of correction since early October. If these inflows continue and intensify through this week, they could help cushion the ongoing price decline.
Geopolitical tensions and rising oil prices weigh on BTC
Crude oil prices have jumped to the highest level since September 15, with West Texas Intermediate (WTI) reaching $103.28 per barrel on Friday amid supply concerns driven by attacks in Saudi Arabia and tensions involving Iran.
In the latest developments, the Iran-backed Houthis in Yemen vowed on Sunday that they will keep attacking Saudi Arabia's King Khalid Airport in Riyadh.
