Bitcoin surges over 4% to surpass $70,300 amid short liquidations and ETF inflows

Bitcoin surged over 4% to surpass $70,300, driven by short liquidations and ETF inflows. The market “Will Bitcoin be above $100,000 on June 30?” currently shows an unknown percentage for YES.

Bitcoin’s 4% rise suggests bullish momentum, which could affect the likelihood of reaching $100,000 by June 30. The June 30 and December 31 markets may see increased activity as traders adjust their positions. Although U.S.-Iran tensions and Middle East conflicts create a complex backdrop, this price move is more influenced by crypto-specific factors like ETF inflows.

Bitcoin’s price rise is fueled by liquidations and ETF inflows amid volatility between $67,000 and $75,000. Bitcoin ETFs trail gold ETFs in year-to-date flows — $23.6 billion compared to $44.4 billion — indicating a preference for stability.

This movement could signal a shift towards bullish sentiment in crypto markets. Geopolitical tensions haven’t directly influenced this spike, focusing attention on internal market dynamics like ETF activity and short squeezes. For a YES bet at 22¢ to pay $1 if Bitcoin hits $100,000 by June 30, traders must anticipate significant bullish catalysts soon.

Watch for announcements from BlackRock, MicroStrategy, and Fidelity, as well as any changes in SEC regulations or macroeconomic signals that could impact Bitcoin’s path.