Bitcoin rebounds toward $70,000 as ETFs pull in $1.45 billion in five days

Market maker Enflux says traders are not pricing catastrophe or resolution to the conflict in the Middle East, while Glassnode data shows improving spot demand but cautious derivatives positioning. What to know : Bitcoin’s rebound toward $70,000 has been driven largely by short-covering and positioning rather than renewed bullish conviction, according to market maker Enflux. Institutional demand remains a key source of support, with spot bitcoin ETFs drawing about $1.45 billion in net inflows over the past five trading days. On-chain, derivatives and prediction-market data indicate that bitcoin has found near-term support, but traders remain cautious and are not yet pricing in either a decisive rally or a deeper sell-off.