[Block Rhythm] On June 16, market observations show that "despite the ongoing tensions in the Middle East, Bitcoin has not shown signs of panic selling. After initial volatility triggered by the Iran-Israel news last Friday, this crypto market benchmark asset has gradually bounced back, recovering from a weekly low of $102,800 to $107,000. Similar rebounds have also occurred in other mainstream crypto assets and U.S. stock index futures.
Behind the strong performance of Bitcoin, the continuous accumulation by institutions has become a key support. It is noteworthy that some institutions have been buying during the pullback, and the spot Bitcoin ETF has recorded net inflows for the seventh consecutive week. After Bitcoin held the critical psychological level of 100,000 USD, market sentiment has clearly stabilized. More importantly, this round of pullback is only 3%, much smaller than the over 8% decline during the escalation of the Iran-Israel situation in April last year.
From a more macro perspective