Bitcoin soared above $75,000 on Tuesday morning in Asia, its highest level since early February. The move extended the winning streak by eight days, making it the longest since the February 2024 bull market break.
$BTC It was trading above $75,000 as of 1:30 a.m. UTC, up 3% in 24 hours. The asset is now up about 25% from its February low of around $60,000, when the Iran conflict triggered a widespread selloff.
On-chain data suggests supply tightness
Exchange inflows to Binance in particular have fallen sharply in recent weeks, reducing spot selling pressure. At the same time, the whale ratio of Bitcoin exchanges reached a six-year high. Large holders have increased their share of the trade by a large margin, a pattern seen prior to major turning points in past cycles.
Stablecoin issuance and ETF purchases are accelerating as prices recover. The U.S. Spot Bitcoin ETF posted net inflows of about $2.1 billion for the third week in a row, suggesting new money is flowing into a tight market.
Rotation from gold to capital $BTC
Last week, gold dipped below $5,000 while Bitcoin rose about 7%, fueling rotational speculation. In Polymarket, the probability of $BTC A record 56% of people reached $80,000 this month.
Analysts warn that rising market estimates could be a sign of overheating. More than 60% of breakout bets in the past have often been preceded by profit-taking corrections.
Macro risks still exist
Global energy markets remain tense, with fuel oil prices in major hubs reaching record levels. However, amid uncertainty in the Middle East, Bitcoin has outperformed both stocks and commodities.
The Fed’s interest rate decision on Wednesday is likely to be the next big trigger. The broader correction structure from late 2025 remains in place, but sustaining above $75,000 could pave the way to $80,000.
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