Bitcoin Surges Above $78K Amid Ceasefire Extension and Liquidity Boost 💥
BTC is trading above $78,000 for the first time in weeks after surging nearly 6% this week. The US-listed spot ETF saw a mild inflow of $11.84 million on Tuesday amid uncertainty over US-Iran peace talks.
The extension of the ceasefire announced by President Trump pushed BTC higher, reaching its highest price since February 3 at $78,452. This positive momentum could be fueled by the US Treasury's potential buyback plan for $15 billion, providing fresh liquidity to markets and supporting Bitcoin's price.
While ETFs recorded a modest inflow of $11.84 million on Tuesday, reflecting investor uncertainty surrounding peace talks, further upside remains if these flows continue.
BTC/USD 4H chart shows the asset trading above both its 50-day and 100-day EMAs at $72,345 and $75,368, respectively, indicating a bullish bias. Resistance levels are set near $78,962 and $80,000.
Bitcoin is poised for further gains ahead, with support around the 100-day EMA and lower channel boundaries. 📈
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