Bitcoin Nears $75K as Institutional Flows Return

Bitcoin's recovery extended into a third week as the price rose to $74,509, a level not seen since Feb. 4. The cryptocurrency is up 22.5% from its Feb. 6 low of $60,000, though markets remain hesitant to declare a definitive bottom. Data point to renewed institutional appetite as a potential driver of the current breakout.

Michael Saylor’s Strategy bought 22,237 BTC for $1.57 billion over the last week. Net flows for the 12 US-listed spot Bitcoin ETFs topped $763 million last week, marking a third consecutive week of inflows. Tokyo-based Metaplanet said it raised $255 million in a private placement to buy more Bitcoin.

CEO Simon Gerovich said the raise would provide the "additional firepower on our march towards 210,000 BTC." Bitfinex analysts noted Bitcoin has "decisively reclaimed the $70,000 level" and said market structure has "improved meaningfully" even as the token has yet to secure a breakout above local range highs.

United States, Tokyo

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