Bitcoin's attempt to reach the $70,000 mark was unsuccessful, and the price dropped below $67,000. This decline resulted in liquidations amounting to $123 million in long positions. Despite the price setback, ETF investments in Bitcoin have shown robustness, with inflows surpassing $2.2 billion in the last week.
Additionally, the correlation between Bitcoin's performance and traditional stock markets is significant, maintaining a 40-day correlation rate higher than 80%. Despite the price retreat, the derivatives markets, which include futures and options, have remained stable.
Moreover, the Bitcoin futures premium remains higher than 9%, indicating that the overall market sentiment about Bitcoin remains optimistic despite the short-term price falls.
