Overview
- Bitcoin's price climbed to over $93,000, marking its highest level since early March, driven by renewed investor optimism and macroeconomic shifts.
- U.S. Treasury Secretary Scott Bessent's comments on potential U.S.-China trade de-escalation have lifted market sentiment across both traditional and crypto markets.
- Institutional inflows into Bitcoin spot ETFs reached multi-month highs, with over $1 billion in net inflows this week alone, signaling robust demand from institutional investors.
- Major altcoins, including Ethereum, Dogecoin, and Solana, recorded significant gains of up to 15%, reflecting broader market strength.
- On-chain data indicates weakening demand momentum for Bitcoin, raising questions about the sustainability of the current rally despite bullish macroeconomic signals.