Why Bitcoin is Surging?

The post Why Bitcoin is Surging? appeared first on Coinpedia Fintech News

Bitcoin is showing strength even as global markets face rising tension. Conflicts involving Iran, complicated oil and gas trade routes, and a 70% surge in European gas prices have increased uncertainty. Meanwhile, South Korean stocks fell another 12% today. Despite this, Bitcoin has moved back above $71,000, supported by five straight days of inflows into spot Bitcoin ETFs. Buying activity is also rising, with Binance’s buy-to-sell ratio reaching 1.18, the highest this year. Strong buying pushed volumes above $1 billion per hour, helping BTC break higher. If inflows and buying pressure continue, Bitcoin could see further short-term gains.