Bitcoin recently reclaimed $69,000 support with signals of further upside in the derivatives market. Positive inflation data and macroeconomic events contribute to a bullish sentiment, despite concerns about miner selling and ETF outflows.
Bitcoin ETFs attracted $2 billion in deposits, while analysts predict a potential surge in value. Traders emphasize the need for fresh all-time highs to break pump-and-dump cycles, with potential liquidity boosts from MicroStrategy and spot Bitcoin ETF inflows.
Bold predictions range from Bitcoin doubling to nearly $150,000 in four years to doubts on mainstream adoption reaching $1 million. Regulatory concerns and market volatility play a role, with BTC/USD dropping to $35,600 due to regulatory worries, but rebounding as short positions close.
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