Analysis: The crypto market enters a range-bound phase, with ETF capital flows becoming the dividing line between bulls and bears

Odaily reported that although bitcoin briefly returned to the top of its range above $70,000 this week, it quickly fell back to around $67,000, with the overall market showing a "rebound failing to hold the high" pattern. In addition, the ongoing escalation in the Middle East has dragged Asian stock markets lower, with South Korea's stock market recording its largest two-day drop since 2008. Analysts pointed out that the market has recently experienced a "shock—liquidation—rebuild" cycle, with weekend sell-offs mostly being passive liquidations amid thin liquidity. After the pressure eased, the rebound was swift. This round of correction also reflects the accumulated disappointment from previous market crashes. Against the backdrop of strengthening stocks and precious metals, crypto assets are relatively under pressure. If resistance above remains effective, bitcoin may need to consider the possibility of retesting $63,000. Whether bitcoin's price can rise depends on whether ETF inflows can continue this week. (CoinDesk)