Bitcoin Price Hit by US-Iran Ceasefire Uncertainty

The Bitcoin price has been impacted by the ongoing uncertainty over the US-Iran ceasefire talks, leading to a retreat from the key technical level of $72,200.

According to data from SoSoValue, institutional flows have been mixed this week, with spot Exchange Traded Funds (ETFs) experiencing alternating inflows and outflows. This indecisiveness among institutional investors is likely contributing to the muted demand for Bitcoin.

CryptoQuant's weekly report highlighted that Strategy (MSTR) is the sole driver of Bitcoin treasury demand, having accumulated over 45,000 BTC in the last 30 days. This significant accumulation is providing support to the Bitcoin price, and analysts believe it can sustain relative stability around current price levels.