Market analysis: With the continued flow of safe-haven funds, Bitcoin remains under pressure.

During the Asian trading session, as tensions in the Middle East reignite and trigger risk-off sentiment, Bitcoin continues to be under pressure, hovering near its lows since early April. Antonio Di Giacomo, a senior market analyst at XS.com, stated that geopolitical uncertainty is leading to significant volatility in oil prices and concerns about stability in international trade routes, exacerbating institutional investors' cautious sentiment. He added that over the past three weeks, Bitcoin-related ETFs have experienced large outflows, with over $3 billion in redemptions as market participants reduce their exposure to cryptocurrencies. Bitcoin is currently down 0.6%, trading at $70,913, after briefly touching $70,086 - approaching the closely watched $70,000 mark.