Bitcoin has risen above $70,000 following a weekend selloff that briefly reduced the largest digital asset to around $65,000. The move came as volatility in energy markets eased amid concerns of disruptions in the Strait of Hormuz. Market maker Enflux noted the resilience of bitcoin despite the initial shock. U.S. spot bitcoin ETFs saw significant net inflows last week, bringing total total to over $55 billion. However, despite this, conviction has yet to return.