Bitcoin continues to hold its ground near the significant price mark of $70,500, recovering after a dip that brought it down to around $60,000. This resilience comes as exchange-traded fund (ETF) inflows make a notable comeback, contributing an impressive $15.1 million to the market.
The recent activity has seen FBTC lead the charge with a substantial $12 million in inflows, signaling renewed interest from investors. Overall, the market experienced $189 million in liquidations that have reset leveraged positions, setting the stage for potential upward momentum.
Market observers note that large holders, often referred to as whales, have taken advantage of the recent price weakness to accumulate 53,000 BTC. This accumulation trend raises speculation about a possible target of $72,000 as the next key resistance level.
As we move further into mid-February, the dynamics of ETF flows and whale positioning will be crucial for traders and investors to watch. The current sentiment appears cautiously optimistic, as participants assess the implications of these trends on future price movements.
