Bitcoin rose about 8.5% this week and more than 13% since the Middle East conflict intensified, outperforming technology shares, gold, and U.S. equities. U.S. spot Bitcoin ETFs have recorded roughly $1.3 billion in net inflows through March, potentially marking the first positive inflow month since October. The largest buyers of the asset appear to be in the United States, with institutional demand gradually recovering. The crypto fear-and-greed index remains in extreme fear, and perpetual futures funding rates stayed negative.
The funding rate is the periodic payment exchanged between traders. The period also saw net inflows into US spot Bitcoin ETFs. During this stretch, IGV rose about 3%, gold fell about 6%, and U.S. stocks posted losses. In March, the asset gained roughly 7% for the month, marking the first positive monthly return since September.
Despite inflows, market sentiment remains cautious, and Bitcoin’s outperformance highlights its resilience against traditional risk assets, suggesting a decoupling from the broader risk-off environment. The move also hints that Bitcoin may be leading market responses to macro events around the clock, as geopolitical tensions persisted.
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