Renewed Institutional Demand Boosts Bitcoin Amid Middle East Tensions

Bitcoin's price edged lower on Tuesday but retained most of its recent gains after rising by 2.5% in the previous session. The recovery was supported by renewed institutional demand, with exchange-traded funds recording inflows of more than $137 million on Monday.

The company Strategy announced that it had increased its US dollar cash reserves by $150 million, bringing its total reserves to $4.80 billion. However, persistent tensions in the Middle East continue to weigh on risk sentiment, limiting Bitcoin's ability to extend its gains.