Bitcoin rebounds to $72,000 as institutional inflows continue [Crypto Briefing]

According to The Financial News, Bitcoin climbed to around $72,000 on the 16th, supported by continued institutional inflows.
Global crypto data platform CoinMarketCap reported that as of 10 a.m. that day, Bitcoin was trading near $72,000, up 2.17% over the previous 24 hours. Over the past week, Bitcoin has risen 9.34%.
In the Korean won market, Bitcoin is trading around 106 million won. Based on data from global crypto market comparison platform Cryprice, the Korea premium stands at -1.78%.
Despite the conflict in the Middle East, institutional inflows appear to have driven Bitcoin’s price higher. CoinMarketCap data shows that institutions recorded net purchases of spot Bitcoin ETFs for five consecutive trading days from the 9th to the 13th. Over the past three months, net institutional inflows into Bitcoin ETFs have reached about 49.1 million dollars.
Market participants view cryptocurrencies, which are not bound by trading hours even during the war involving the Islamic Republic of Iran, as an emerging hedge against volatility. In an interview with a foreign media outlet, Hanson Biringa, an executive at Flowdesk, said, "The fact that you can trade 24 hours a day is attractive to traditional traders during weekends when conventional financial markets are closed."
Investor sentiment has also improved. The Crypto Fear and Greed Index provided by CoinMarketCap stood at 36, indicating "fear," but this is higher than last week’s reading of 21. The index ranges from 0 to 100, with values near 0 interpreted as "extreme fear" and those near 100 as "extreme greed."
At the same time, Ethereum was trading near 2,171 dollars, up 3.99% from the previous day. Ripple was around 1.44 dollars, a gain of 2.95%.

yimsh0214@fnnews.com Im Sang-hyuk Reporter