Bitcoin’s price surged to $74,509, marking a 22.5% recovery from its recent low, driven by significant institutional buying activity. Strategy purchased over 22,000 BTC for $1.57 billion, while Metaplanet raised $255 million specifically for Bitcoin acquisition. Concurrently, spot Bitcoin ETF inflows saw a strong return, totaling over $763 million last week.
Bitcoin’s price recovery extended into a third week as the price rallied to $74,509, a level not seen since early February. The cryptocurrency is up 22.5% from its recent low, with data pointing to renewed institutional investor appetite as a key driver.
Over the last week, Strategy, the largest public holder of Bitcoin, purchased 22,237 BTC for $1.57 billion. According to reporting, inflows to exchange-traded funds suggest a return of institutional confidence, with net flows for the 12 US-listed spot Bitcoin ETFs topping $763 million last week.
On Monday, Metaplanet, a Tokyo-based public company, announced it raised $255 million in a private placement for a new instrument aimed at purchasing more Bitcoin. Metaplanet CEO Simon Gerovich said the raise would provide the “additional firepower on our march towards 210,000 BTC.”
Bitfinex analysts stated that Bitcoin is approaching this week’s FOMC meeting with renewed momentum and has decisively reclaimed the $70,000 level. Their report noted Bitcoin’s market structure had improved meaningfully, though BTC has yet to secure a breakout above local range highs.
Bitfinex analysts highlighted that the absorption-to-emissions ratio showed institutional investors absorbing nearly five times the daily miner supply. Hyblock analysts explained that following a sharp drop, the market entered a consolidation phase where open interest declined and shorts used more margin.
Hyblock analysts added that over the past month, that regime has shifted, with traders increasing leverage on the long side and open interest rising. They stated this suggests the push toward the top of the range is largely being driven by derivatives positioning rather than spot demand.
