Analysts believe that maintaining current levels above $71,800 is key to confirming the end of the downtrend and the start of a new upward phase. The cryptocurrency market saw a strong recovery on Wednesday, with Bitcoin successfully offsetting recent losses caused by political turmoil in the Middle East. The currency made a significant jump after breaking the $73,000 barrier, achieving an 8.23% daily increase. This rally came shortly after Bitcoin's price dropped to $63,038 amid escalating regional tensions, proving the rapid recovery capability of digital assets. U.S. spot Bitcoin ETFs fueled this momentum by attracting over $680 million in cash inflows just on Monday and Tuesday. The rally wasn't limited to Bitcoin; Ethereum also rose by about 6% to reach $2,092, amid a wave of market optimism. While Asian stocks and gold saw notable declines, some traders turned to cryptocurrencies as a potential 'safe haven' amid the current crisis. Despite this recovery, experts still warn that the overall situation remains 'fragile,' with Bitcoin still 40% below its all-time high recorded last October.
