Bitcoin (BTC) is nearing $73,000 as it experiences a resurgence in institutional interest, following a temporary ceasefire in the U.S.-Iran conflict that has eased crude oil prices. This geopolitical relief has led to a significant shift in market sentiment, allowing for a 'risk-on' approach among investors. Spot Bitcoin exchange-traded funds (ETFs) recorded a staggering $358 million in net inflows, primarily driven by BlackRock’s IBIT and the newly launched Morgan Stanley Bitcoin Trust (MSBT), which garnered $34 million on its first day. The recent price action has also been influenced by a substantial 'short squeeze', with over $427 million in bearish positions liquidated as Bitcoin surpassed $71,000. Analysts note that if current support levels hold, Bitcoin could see a 'liquidation cascade' propelling it towards new 52-week highs. The easing of oil prices has shifted inflation expectations, favoring a dovish stance from central banks, which historically benefits Bitcoin as a 'scarcity' asset. On-chain data indicates that large holders, or 'whales', are accumulating Bitcoin, reinforcing a bullish sentiment in the market. Overall, if peace talks in Islamabad yield lasting results, analysts predict a potential supply squeeze that could establish $80,000 as a new baseline for Bitcoin in the latter half of the year.