Displaying resilience against inflation indicators in the United States, Bitcoin's value rose to $68,630 with strong support despite market concerns. This increase came after Wall Street's opening hours, coinciding with the news that major banks, including Goldman Sachs and Citigroup, were being included in BlackRock's Bitcoin exchange-traded fund (ETF) initiative. The involvement of these industry giants signals a notable step towards mainstream financial acceptance of Bitcoin.

Bloomberg Intelligence's senior ETF analyst, Eric Balchunas, noted that large firms are now showing interest in Bitcoin due to the success seen by the ETFs. The cryptocurrency landscape has evolved significantly, with recent products managing more than 500,000 BTC as of April 4, excluding the Grayscale Bitcoin Trust assets.

This institutional support has shielded Bitcoin from negative market reactions to U.S. inflation trends, especially after strong employment data hinted at potential prolonged interest rate increases by the Federal Reserve. Market analysts have observed interactions with sell-side liquidity at market open and noted a buildup of sell orders above $69,000, indicating a crucial point for Bitcoin's price direction.

Traders like Jelle have seen the cryptocurrency establish higher lows on hourly charts, suggesting a possible continuation of the upward trend. Expressing cautious optimism, Jelle mentioned that if Bitcoin breaks above $69,000, it could lead to significant price movements.

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