[Analysis: Despite Bitcoin's price falling below $71,000, data shows its bullish momentum remains intact] According to Cointelegraph, despite Bitcoin's price dropping below $71,000, data indicates that its bullish momentum has not waned. Bitcoin retreated 7% after hitting $76,000 on Tuesday, as Israel's attack on Iran's natural gas facilities drove up oil prices and the U.S. PPI exceeded expectations, leading to a simultaneous decline in U.S. stocks. Analysts pointed out that the continued buying by U.S.-listed ETFs and strategies provides spot demand support for Bitcoin. Bitcoin's leverage levels among bulls remain low, meaning that even if the price drops another 5%, the risk of cascading liquidations is minimal. Rising inflation concerns negatively impact fixed-income returns, paving the way for capital to eventually rotate from gold to Bitcoin. The funding rate for Bitcoin perpetual contracts remained below the neutral range when the price broke through $76,000, indicating that the rally was driven by spot demand rather than speculative activity in derivatives. Gold prices have shown signs of weakness, and if capital flows out of gold, it could act as a catalyst for Bitcoin's continued rise.