Bitcoin has broken past $68,000 for the first time in weeks, driven by a surge of institutional interest via spot Bitcoin ETF inflows. Yesterday alone, US-based spot Bitcoin ETFs recorded $1.2 billion in net inflows, the largest single-day figure since launch.
What's Driving the Rally?
Several factors are contributing to the current bull run:
1. ETF Momentum — BlackRock's IBIT and Fidelity's FBTC have consistently absorbed supply
2. Macro Tailwinds — Lower interest rate expectations are pushing investors toward risk assets
3. Halving Anniversary — 14 months after the April 2024 halving, the supply squeeze is being felt
4. Corporate Adoption — More public companies adding BTC to treasury
Impact on Pakistani Investors
For Pakistani users, this rally has translated to BTC crossing PKR 19,000,000. Local P2P markets on Binance are showing a 2-4% premium over global rates due to USD-PKR volatility.
What Analysts Are Saying
Technical Analysis
BTC is currently testing resistance at $69,000. A clean break above could open the path to $75,000. Support sits at $64,500.
The market remains in a confirmed bull trend, but volatility is expected. Investors should size positions carefully.