Emre Yumlu 
Bitcoin delivered a strong performance throughout the week, climbing above the $73,000 level and managing to hold the critical $70,000 support zone. Despite this upward momentum, several market indicators suggest that the broader correction in the cryptocurrency market may not have fully ended.
Weak economic data from the United States combined with ongoing geopolitical tensions in the Middle East has pushed investors toward scarce assets. Bitcoin has been among the assets benefiting from this shift in market sentiment.
Weak Economic Data Boosts Demand for Bitcoin
Recent economic figures from the United States indicate a noticeable slowdown in growth. The U.S. economy expanded by only 0.7% during the final quarter of 2025, a figure that represents a significant downward revision from earlier estimates. The final report is expected to be released on April 9, but the weaker data has already fueled concerns about a potential recession in 2026.
These developments have influenced investor behavior in traditional markets. Yields on the U.S. 10-year Treasury climbed to 4.26%, reflecting higher return expectations from investors holding government bonds. In an environment marked by uncertainty and rising yields, some investors have turned to limited-supply assets such as Bitcoin.
Meanwhile, equity markets have shown relative resilience. The S&P 500 is currently trading roughly 5% below its all-time high, suggesting that risk appetite has not completely disappeared.
Geopolitical Tensions and Oil Prices Add Pressure
Another factor influencing global markets is the ongoing conflict in Iran and the resulting surge in oil prices. At one point, oil briefly spiked to $119.50 per barrel, creating additional volatility across financial markets.
The U.S. government’s temporary decision to allow the purchase of Russian oil that had been stranded at sea helped ease some of the immediate concerns. Following the announcement, oil prices pulled back slightly.
However, oil prices remain roughly $30 higher than levels seen before the conflict began. Elevated energy costs can contribute to inflationary pressure and reduce consumer spending, which may ultimately limit the amount of capital retail investors allocate to cryptocurrency markets.
Institutional Demand and ETF Flows
Institutional interest appears to be another driver behind Bitcoin’s recent strength. Spot Bitcoin exchange-traded funds recorded four consecutive days of net inflows totaling approximately $583 million.
In addition, estimates suggest that Strategy accumulated more than $900 million worth of Bitcoin through its yield-oriented STRC financial instrument. These developments indicate that institutional demand may be playing a role in supporting the current price momentum.
Has the Bear Market Actually Ended?
Despite the positive price action, analysts remain cautious about declaring the end of the broader correction that began after Bitcoin reached its $126,000 peak in October 2025.
Bitcoin’s 50-day correlation with the Nasdaq 100 stands at around 84%, indicating that movements in technology stocks could still influence the cryptocurrency’s performance. Furthermore, Bitcoin has recently underperformed gold, suggesting that investors may not yet view it as a reliable hedge during periods of economic stress.
ETF flow patterns also highlight an important dynamic. Between late February and early March, about $2.14 billion flowed into spot Bitcoin ETFs, helping drive a 14% price rally. However, when those flows reversed, Bitcoin declined roughly 10% within a few days. This suggests ETF activity may be reacting to price movements rather than leading them.
While Bitcoin has repeatedly tested the $64,000 support level and spent nearly five weeks consolidating, the market has yet to produce a clear breakout signal. As a result, whether Bitcoin can maintain its position above $70,000 could remain one of the key factors shaping short-term investor sentiment.
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