Supported by ETF fund inflows, Bitcoin shows "strong" rebound near $72,800

Supported by continuous inflows of funds into the U.S. cryptocurrency spot ETF, Bitcoin’s performance last week clearly stabilized, with prices returning to around $72,800. On March 13, it briefly reached $73,927 during trading, hitting a high for March. Meanwhile, Ethereum also continued its rebound, with gains over the past week surpassing Bitcoin, reflecting a market risk appetite recovery and ETF capital supporting mainstream crypto asset prices.

Bitcoin ETF inflows have become one of the main factors supporting BTC’s rebound. Blockcast earlier reported that as of the week ending March 13, the U.S. Bitcoin spot ETF saw a net inflow of $760 million, marking the third consecutive week of weekly net inflows. On March 13, Bitcoin peaked at $73,927, then retreated to around $71,280, but overall maintained a rebound pattern.

From a weekly performance perspective, Bitcoin was around $67,995 on March 9 and rose to $72,394.91 by the morning of March 13, indicating a weekly increase of approximately 6% to 7%. When calculated based on intraday highs, the rebound was even more significant. The market generally interprets this trend as a direct support for prices following a recovery in ETF buying activity.

In addition to ETF capital flows, macro market sentiment has also been an important factor driving the rebound. Recently, international markets experienced volatility due to rising oil prices and Middle East tensions. However, some reports indicate that statements from U.S. officials regarding inflation and oil price risks have alleviated concerns about further tightening pressures, pushing Bitcoin closer to $72,000 again. Some analysts believe that, amid global risk asset pressures, cryptocurrencies have recently shown relative resilience, attracting some capital back into the market.