Bitcoin (BTC) approached the significant $65,000 mark early Tuesday, reflecting a notable shift in market sentiment from fear to greed. This surge is tied to various strategic market activities, including a major purchase by Japanese firm Metaplanet and a substantial increase in Bitcoin Spot ETF inflows.

Metaplanet announced the acquisition of 21.877 BTC, boosting its total holdings to 225.611 BTC, valued at approximately $14.17 million. This move was part of a broader strategy, which included issuing a $6.2 million bond aimed at expanding Bitcoin reserves.

Market analysts attribute Bitcoin’s price movements to a combination of factors. Significant market inflows and positive shifts in investor sentiment have played critical roles. Notably, after weeks of net outflows, the market saw $3.3 billion in inflows last week, with substantial contributions from futures, stablecoins, and Spot ETFs.

Bitcoin ETFs, like BlackRock’s iShares Bitcoin Trust and Ark 21 Shares Bitcoin ETF, witnessed substantial inflows, indicating sustained retail interest.

External endorsements and speculative activities have also fueled the market. BlackRock CEO Larry Fink’s bullish stance on Bitcoin and the anticipation around the potential launch of an Ethereum ETF have bolstered investor confidence.

Further, rumors of a softer regulatory stance towards cryptocurrencies in China and a postponed crypto tax in South Korea until 2028 are contributing to the positive market dynamics.

Political events, such as the increased likelihood of Donald Trump winning the election following an assassination attempt, have also impacted market sentiments. This political climate, coupled with strong market inflows and strategic acquisitions, suggests a bullish outlook for Bitcoin, with some analysts predicting that the bottom has been reached.

As the market continues to evolve, investors and stakeholders are closely monitoring these developments, which may define the trajectory of Bitcoin and the broader cryptocurrency market in the coming months.