Bitcoin hits six-week high above $73,000 as ETFs pull in $240 million

Bitcoin (BTC) jumped past $73,000 on Friday, touching about $73,300 to mark a six-week high, after breaking out of a bearish-looking pennant on the daily chart. The advance came with firm trading volume, and BTC/USD cleared the $70,000 area before posting roughly a 7% gain in a single session. Spot Bitcoin ETFs added momentum, drawing about $240 million of net inflows in one day—equivalent to roughly 3,350 BTC—supporting risk appetite across both retail and institutional participants. From a market-structure standpoint, the push above $70,000 flipped the short-term setup more constructive as price reclaimed multiple resistance levels and moved back above key moving averages. Traders are now watching the 100-day EMA around $75,400 as the next major technical hurdle; a decisive break could open the way toward higher liquidity zones. Analysts also flag a developing symmetrical triangle on the daily timeframe. If the pattern completes, the implied target sits near $87,000. RSI signals point to bullish divergence, and the breakout’s volume expansion suggests broader participation beyond short-term speculation. On-chain data shows thinner liquidity between $72,000 and $82,000, implying fewer supply obstacles if momentum holds. Above $82,000, supply looks heavier: more than 1.3 million BTC were previously accumulated in that zone, which could cap gains without fresh demand. Positioning data indicates a growing pocket of short exposure near $72,000. Some analysts say a move toward about $75,300 could set off larger liquidations, potentially amplifying upside volatility. Even so, Glassnode highlights a notable resistance band at $78,000–$80,000, where short-term holders previously built sizable positions—an area that could slow progress if sellers overwhelm bids. For now, the broader setup remains supportive as long as Bitcoin holds above recently reclaimed support levels.