Despite increased volatility in global financial markets, Bitcoin has demonstrated strong resilience, maintaining a price above $71,500, significantly exceeding the miner breakeven point of $70,027. This price advantage provides miners with a considerable safety margin, reducing the urgency to sell their holdings and helping to stabilize network hash rates.
Against the backdrop of pressure in traditional stock markets, crypto assets have shown relative strength. Notably, Bitcoin spot ETFs recorded a net inflow of $1.1 billion within just three days, indicating that institutional investors have not retreated due to short-term fluctuations but are instead seizing the opportunity to increase their positions. Among them, BlackRock contributed $892 million in net inflows, continuously accumulating Bitcoin in the $64,000 to $68,000 range over the past week, with total net inflows reaching $1.5 billion.
On-chain data further confirms the rise of buying power: net buyer trading volume surged to nearly $100 million per hour at one point, indicating that the market is driven by substantial real demand rather than short-term speculation. Historical data shows that when market sentiment becomes extremely polarized, Bitcoin often experiences a more solid rebound after panic. The current supply-demand dynamics are highly similar to previous cycles, suggesting that this upward trend may have sustainability, with market sentiment shifting from cautious to positive.