Bitcoin's Rally Stalls at 74,000 as ETF Inflows Continue

The next key target for the BTC/USD pair is the psychological level at 70,000. This bearish forecast follows a rebound that is showing signs of exhaustion. The BTC/USD pair rose to a high of 75,770, its highest level since March 17. However, the pair has formed a double-top pattern and a doji candlestick pattern, both signs of a bearish reversal. The pair also remains below the 100-day Exponential Moving Average (EMA), indicating that bears remain in control. Despite this technical exhaustion, spot Bitcoin ETFs have continued adding assets. On Tuesday, these funds added over $411 million in assets, bringing the monthly increase to over $741 million. Total inflows are now $56 billion, total net assets exceed $96 billion. Bitcoin's price had moved from a February low of 60,000 to 74,000, holding steady above the key resistance level at 74,000 as the recent recovery lost momentum.