BTC saw a 0.64% increase on Sunday, April 7, following a 1.56% rise the previous day, closing at $69,417

BTC saw a 0.64% increase on Sunday, April 7, following a 1.56% rise the previous day, closing at $69,417. This move brought BTC back above the $70,000 mark for the first time in six sessions.

Continued flow data from the BTC-spot ETF market for the week ending April 5 contributed to buyer interest in BTC. Total net inflows reached $484.3 million, though they were lower than the previous week's $859.7 million.

The sustained demand for BTC-spot ETFs signals positivity for BTC as the Bitcoin halving event approaches. With only ten days left until the halving, reduced supply and ongoing demand from the BTC-spot ETF market could propel BTC towards $80,000.

However, Federal Reserve monetary policy remains a significant factor, with US economic indicators influencing trends in the BTC-spot ETF market. Potential Fed interest rate cuts could boost BTC demand. This week, US inflation data will influence expectations regarding a June Fed interest rate adjustment.

The positive US Jobs Report supports market sentiments that the US economy will avoid a recession. Combined with potential Fed rate cuts, favorable macroeconomic conditions, continued demand from the BTC-spot ETF market, and the impending halving event, this offers bullish signals for BTC.