Bitcoin is demonstrating resilience today, holding steady above the key $70,000 level even as traditional markets digest fresh inflation data . The price stability is underpinned by robust institutional demand, with spot Bitcoin ETF inflows recording another day of significant net inflows, reinforcing the positive trend seen throughout March.
Bitcoin Price Steady Amidst Calming Geopolitical and Economic Winds
As of late trading on March 11, Bitcoin (BTC) is changing hands near $70,409, reflecting a gain of roughly 0.8% over the last 24 hours . The price action comes after a period of extreme volatility driven by the ongoing geopolitical conflict. However, remarks from President Trump suggesting a potential end to the war have helped ease risk sentiment, causing oil prices to retreat from their recent highs .
This positive risk-on move was further supported by economic data. The February Consumer Price Index (CPI) report was released today, showing a monthly increase of 0.3% and a year-over-year rate of 2.4% , both perfectly in line with economist forecasts . While this in-line data reinforces the expectation that the Federal Reserve will hold rates steady at its upcoming meetings, it also removes a layer of uncertainty that has been hanging over the market .
Bitcoin ETF Inflows Surge Past $250 Million Daily
The positive price action is being fueled by sustained institutional accumulation. On Tuesday, March 10, U.S. spot Bitcoin ETF inflows recorded a robust $251 million . Notably, this inflow was broad-based, with none of the twelve ETFs experiencing net outflows on the day .
Leading the charge once again was BlackRock’s iShares Bitcoin Trust (IBIT), which attracted a massive $186 million in a single day . Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with a solid addition of $33.5 million . This latest surge builds on a strong month for the products, pushing cumulative March inflows to $1.56 billion and effectively erasing the $576 million in outflows seen at the end of February .
This continued demand highlights a shifting market structure, where institutional ETF holders are demonstrating less inclination to panic sell during drawdowns, providing a strong floor for the market
