Bitcoin Holds Above Key Support Amid ETF Inflows and US-Iran Tensions Ease

Bitcoin's price has shown four consecutive weeks of gains, holding above its key 200-week Simple Moving Average (SMA) at $63,500. The crypto has also seen institutional demand improve slightly with spot Exchange Traded Funds (ETFs) posting inflows for a third week in a row.

The halt in US-Iran strikes has renewed hopes for diplomatic negotiations and improved risk appetite, supporting Bitcoin's recovery. According to SoSoValue data, the total Bitcoin Spot ETF net inflow was $33.79 million last week.

Bitcoin is currently trading above its 200-day SMA at $63,561, with a reading of 40 on the Relative Strength Index (RSI) indicating mild signs of fading bearish sentiment. The Moving Average Convergence Divergence (MACD) has flipped to a bullish crossover, supporting a positive outlook.

On the daily chart, Bitcoin is holding a neutral-to-bullish bias, trading above its 50-day Exponential Moving Average (EMA) at $65,097 while remaining capped by higher EMAs. Initial resistance emerges at the 100-day EMA near $67,774, with the 200-day EMA around $73,481 acting as a more strategic barrier.