Bitcoin Holds Firm at $83K as ETF Inflows Hit Record High

Bitcoin (BTC) price has maintained its value around $83,150 as the cryptocurrency faces resistance near recent highs. Spot Bitcoin ETFs in the U.S. saw a significant influx of funds last week, with approximately $2.39 billion in inflows, the highest weekly performance so far this year.

Technical indicators show that momentum has slowed but remains intact, with the RSI at 59.54 and MACD remaining positive. However, elevated Treasury yields and hawkish rate expectations continue to limit upside potential in the short term.

Analyst Benjamin Cowen noted that Bitcoin closed above its May peak, favoring bullish scenarios, but also mentioned that the rally has been more subdued compared to previous cycles, suggesting seasonality concerns and rising yields may be restraining price action.