Exchange inflows continue as Gulf tensions hold energy prices elevated

Bitcoin sits near 73,500 with persistent exchange inflows and MVRV near 1.36, showing holders hold thin profit cushions amid distribution pressure that keeps price from breaking higher. The ignored contradiction is that geopolitical escalation in the Gulf sustains higher energy prices and sanctions friction while the dollar and yields remain firm, yet Bitcoin registers no meaningful response beyond contained volatility. This setup leaves open whether sustained inflows above several thousand BTC will force price lower or whether the network's steady hashrate simply absorbs supply without consequence.