Saxo Bank analysts said in a report that Bitcoin rose to a three-week high as macroeconomic concerns abated and continued inflows of ETFs boosted cryptocurrency sentiment. They said that the trade agreement between the US and Vietnam raised market optimism, and tariffs were lower than feared. The weak ADP private employment report released on Wednesday increased bets on the Fed's interest rate cut, further supporting risk appetite. With BlackRock's Bitcoin ETF and the new iShares Ethereum ETF rising, institutional demand for cryptocurrencies remains strong.

Saxo Bank analysts said in a report that Bitcoin rose to a three-week high as macroeconomic concerns abated and continued inflows of ETFs boosted cryptocurrency sentiment. They said that the trade agreement between the US and Vietnam raised market optimism, and tariffs were lower than feared. The weak ADP private employment report released on Wednesday increased bets on the Fed's interest rate cut, further supporting risk appetite. With BlackRock's Bitcoin ETF and the new iShares Ethereum ETF rising, institutional demand for cryptocurrencies remains strong.