Bitcoin hits its highest level in a week, crossing $73,000

Bitcoin hit its highest level in a week, breaking above $73,000 on Friday morning and continuing to show resilience amid geopolitical tensions that are reigniting inflation and growth fears. The asset is up 4.6% in the past 24 hours.

Bitcoin ETFs are also showing strength, set to record their third consecutive week of inflows, the longest weekly streak since September, according to SoSoValue.

Over the past week, inflows have pushed the “7-day average firmly back into positive territory,” marking “the most significant demand impulse since the correction began, suggesting institutional buyers may be stepping in as bitcoin stabilizes near recent lows,” Glassnode analysts said in a report.

Options markets are also reflecting this sentiment, showing “easing short-term uncertainty, with front-end implied volatility compressing as traders scale back aggressive short-dated hedging,” Glassnode analysts said.

The analysts added that the market appears to be “shifting from forced deleveraging toward early stabilization, with scope for recovery if spot demand continues to build.”

Meanwhile, CoinGlass analysts said that leverage is rebuilding after the recent flush, with open interest (OI) back near $88,000.

“Not extreme yet, but the fuel for volatility is clearly returning,” they posted:

Apollo Crypto’s portfolio manager and head of research, Pratik Kala, told Sherwood News that options market participants are getting bullish with increasing volumes in calls.

“A firm break above 73K will set us up for a nice rally,” Kala said.

In terms of levels to watch, Bitunix analyst Dean Chen said that the area around $71,300 remains a primary short liquidation and liquidity concentration zone, acting as near-term resistance, while the $72,000 to $73,500 range contains an even denser cluster of short leverage.

Chen said the structure suggests that under an environment dominated by macro conflict and energy uncertainty, short-term crypto market behavior continues to revolve around liquidity sweeps within a range.

“Unless the short liquidity above $71,300 is effectively absorbed, BTC prices are likely to remain in a consolidation structure while awaiting clearer directional triggers from macro developments,” Chen said.

Longer-term, $88,000 to $90,000 is the zone bitcoin needs to reclaim to shift short-term momentum, Marcin Kazmierczak, cofounder of RedStone and Credora, told Sherwood.

“The correlation between BTC and broader risk assets has tightened in recent weeks, so any sustained recovery likely depends on macro clarity rather than crypto-specific catalysts,” Kazmierczak said.