Bitcoin is trading around $72,600 as of 4 p.m., up roughly 5.8% from the previous day and signaling a rebound from last month’s softness. Earlier in the week, prices touched the $74,000 level, marking the strongest cadence since early last month, with Ethereum and other major cryptocurrencies also advancing.
The rally reflects a mix of forces, including revised risk perception amid war-related shocks and active positioning by traders. Glassnode analysts say the market is moving away from crisis pricing toward a regime where positioning drives price moves. Institutional demand has also supported gains, with Bloomberg data showing around $680 million flowed into U.S. Bitcoin spot ETFs on the 2nd and 3rd.
Policy signals are contributing to the narrative as well. Former President Donald Trump voiced support for a cryptocurrency framework, signaling regulatory clarity may be on the horizon and easing policy uncertainties for the sector. Market observers note Bitcoin’s resilience through geopolitical shocks, fuelling renewed discussion about its potential as a digital safe-haven asset akin to gold.
Yet there is pushback. Ray Dalio, founder of Bridgewater Associates, argues gold remains singularly precious and questions Bitcoin’s role as a digital gold substitute, highlighting concerns about the absence of central-bank backing and potential security vulnerabilities in the face of advancing quantum threats.
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