Investing.com — Bitcoin edged higher on Saturday after tumbling to a seven-week low near $72,000 in the previous session, weighed down by unresolved tensions between the U.S. and Iran, and weaker exchange-traded fund demand.
The world’s largest cryptocurrency last traded 0.5% higher at $73,846.1 by 18:03 ET (22:03 GMT).
Bitcoin fell about 3% over the past seven days, when renewed military exchanges and conflicting signals from Washington and Tehran undermined hopes for a swift diplomatic breakthrough in the Middle East.
Bitcoin pressured by cooling ETF inflows
The weakness came even as the S&P 500 recorded its ninth consecutive weekly gain, its longest winning streak since 2023, and Brent crude stabilized near $92 a barrel amid hopes for a ceasefire extension between Washington and Tehran.
Market participants have pointed to slowing inflows into spot Bitcoin ETFs as one factor behind the recent pullback. The cooling demand has offset support from broader risk appetite across financial markets.
Adding to investor caution, CryptoQuant founder and CEO Ki Young Ju warned that Bitcoin’s current downtrend could persist into early 2027. In a post on X, Ju said historical profit-taking cycles have typically led to roughly 18 months of weaker investor returns before a sustainable recovery emerges.
Link: https://ca.finance.yahoo.com/news/bitcoin-slips-etf-demand-cools-123209332.html