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Bitcoin shows resilience as ETF inflows continue and derivatives buyers take control despite growing uncertainty
Despite a growing environment of uncertainty, Bitcoin is showing relatively strong signs of resilience. Tensions with Iran continue to escalate, oil and gas trade flows are becoming more complicated, and gas prices in Europe have surged by more than 70%. At the same time, South Korean stocks has plunged, losing an additional 12% today. Within this context, Bitcoin has managed to break above $71,000 and reclaim the $70,000 level. This positive move is supported by five consecutive days of inflows into spot Bitcoin ETFs and a derivatives market that is beginning to show renewed activity. On Binance, the Taker Buy Sell Ratio has just reached 1.18, the highest level of the year. This metric reflects the difference between aggressive buy and sell volumes in the derivatives order books. We can observe that buyers are gradually regaining control of the derivatives market during this correction, which represents an important impulse for Bitcoin. Today alone, the taker buy volume exceeded $1 billion per hour several times, pushing BTC above $71,000. These are encouraging signals for Bitcoin. If ETF inflows continue and buying volumes on derivatives maintain their dominance, a short term reaction in BTC would not be surprising.