Bitcoin Price Surges Past $77K on ETF Inflows and Middle East Tensions

The recent uptrend in the Bitcoin price has caught the attention of market observers. After weeks of volatility, the crypto has regained momentum, with its price surging past the critical $77k level.

One of the main drivers behind this surge is the increasing inflow into spot ETFs. Large institutions such as BlackRock are leading the way, accumulating BTC through regulated channels. According to CoinGlass data, Bitcoin ETFs have seen a notable inflow of $663.90 million on April 17, bringing the net inflow to a massive $58.15 billion.

Another factor contributing to the rise in the Bitcoin price is the easing of US-Iran war tensions. The recent developments within the conflict indicate that there is room for hope for de-escalation, which has pushed oil prices down and bolstered the crypto market.