ETF Inflows Anchor Bitcoin Price Amid Geopolitical Volatility

The recent influx of US$471 million into spot Bitcoin ETFs has provided a crucial boost to the cryptocurrency market, helping to stabilize the price below the $70,000 psychological level.

However, this support is tenuous at best, as the underlying pressure on risk assets remains. The structural deceleration in spot Bitcoin ETF net inflows since early March has disrupted the dominant price engine of 2024-2025, creating a fragile equilibrium in the market.

The flow war between ETF inflows and large holder supply is set to continue, with sustaining institutional buying critical to preventing a breakdown. Any disruption in this buying could allow the structural supply overhang to reassert itself, putting downward pressure on prices.