Bitcoin Rebounds, SpaceX Absorbs Liquidity
Bitcoin strengthened on Friday (June 12th), moving around US$63,864, with a daily range of US$62,301–US$64,301. This increase indicates the crypto market is starting to receive support from improving risk sentiment, especially after investors saw the possibility of a US–Iran peace deal that could ease energy and inflation pressures.
Bitcoin's recovery occurred as global markets responded positively to diplomatic signals from Washington. Hopes that the US–Iran conflict could ease pressure on oil prices and ease concerns about energy-driven inflation. For crypto, this condition is important because more manageable inflation can ease the pressure of high interest rate expectations, although the risk of Fed policy has not completely disappeared.
However, Bitcoin's gains remain limited because outflows from spot ETFs have not stopped. SoSoValue data shows that US spot Bitcoin ETFs are still recording outflows, although weekly pressure has begun to ease compared to the previous week, which reached around US$1.7 billion. As long as institutional fund flows remain stable, Bitcoin's rally is likely to be easily contained.
Additional pressure comes from capital rotation into technology and AI stocks. Reuters reported that hedge funds reduced some of their positions in major tech stocks ahead of the SpaceX IPO, which raised approximately US$75 billion at an initial valuation of US$1.77 trillion. The massive absorption of liquidity into IPOs and AI-themed stocks also limited interest in crypto.
Altcoins also saw limited gains, following Bitcoin. Ethereum hovered around US$1,669, with a daily range of US$1,632–US$1,688. This increase reflects bargain buying after previous pressure, rather than a major shift in crypto market fundamentals.
For now, Bitcoin remains in a fragile recovery phase. US-Iran peace sentiment provided a short-term boost, but its future direction remains dependent on confirmation of the deal, oil price movements, Fed interest rate expectations, spot ETF flows, and whether the fund rotation into AI and major IPOs begins to subside. (arl)
Source: Newsmaker.id
