Bitcoin Soars Above $73K As Spot BTC ETF Buying Frenzy Defies Middle East Unrest ⋆ ZyCrypto

Bitcoin surged to a one-month high above the key psychological $73,000 level, shrugging off the risk-off sentiment that has held back U.S. stocks over the past week amid escalating conflict in the Middle East.

CoinGecko data showed Bitcoin rising 7% on the day, pushing BTC/USD to its highest point in a month. The asset’s breakout above $73,000 after weeks of consolidation has revived bullish momentum among investors.

ETF Buying Spree Fuels Bitcoin’s Upside Push

Bitcoin’s latest rally coincided with continued spot Bitcoin ETF inflows for a second consecutive session, even as tensions in the Middle East escalated, with Israel saying it has struck multiple security and command sites in and around Tehran, while Iranian forces have launched strikes on U.S. facilities.

On March 3, the 11 U.S.-listed spot Bitcoin ETFs recorded a combined $225.15 million in net inflows, following about $458 million the previous day, with no fund reporting net outflows on March 2, according to SoSoValue data. The inflows were led by BlackRock’s iShares Bitcoin Trust (IBIT), which pulled in $322 million in net inflows on Tuesday alone. 

The turnaround comes after a rocky start to the year for spot Bitcoin ETFs. From mid-October—when Bitcoin began its slide—through late February, the funds saw roughly $9 billion in cumulative outflows.

While the funds have suffered about $1.1 billion in net outflows for 2026, momentum has shifted in recent sessions. Since Feb. 24, investors have poured in approximately $1.7 billion, signaling a resurgent institutional investor risk appetite after a period of subdued activity.

While ETF inflows are beginning to rebound, overall market sentiment remains firmly negative. The Crypto Fear & Greed Index is still lingering around 10, a level typically associated with “extreme fear.”

That said, geopolitical de-escalation could further bolster ETF inflows, while any further instability will likely drive volatility. Despite the heightened risks, the latest data still points to sustained institutional demand for exposure.

At the time of writing, Bitcoin was trading around $73,760, according to CoinGecko. The premier cryptocurrency has risen more than 6.9% over the past week following the sudden surge, though it remains roughly 41.8% below its all-time high of $126,080 set on October 6, 2025.