Bitcoin Price Stalls at $63,800 Amid Geopolitical Tensions

Bitcoin's price recovery continued on Friday, but it remains below its long-term support area at $65,400. The cryptocurrency's spot exchange-traded funds (ETFs) listed on US exchanges have seen continued inflows, supporting the sentiment that Bitcoin may welcome its third week of net inflows.

The institutional demand has been positive despite the challenging macro environment. According to SoSoValue data, US spot Bitcoin ETFs recorded $273.87 million in net inflows by Thursday, which could mark a third consecutive week of inflows if Friday's figure remains positive.

The continued ETF inflows may provide an important cushion against downside risks if geopolitical uncertainty persists. However, the demand for riskier assets has been limited due to rising tensions between the US and Iran, higher crude oil prices, and renewed inflation concerns.