$ETH The price of Bitcoin is set for a gain of 70% to 80% with the rise of on-chain metrics and inflows to the BTC ETF

Bitcoin bulls are back after reclaiming the $90,000 level, and an analyst predicts an 80% gain "from here".

The price of Bitcoin has been in a persistent downtrend since January, but the rally on April 22 above $91,000 marks its first break of a higher high of the year and the potential start of a new longer-term bullish trend.

The higher high pattern occurred after BTC surpassed its previous lower high and resistance at $88,500, but the real factor that will keep the price afloat is the buying volumes across various cohorts in the Bitcoin market.

U.S. spot Bitcoin ETFs recorded total net inflows of $381 million on April 21, levels not seen since January 30.

The increase in spot BTC inflows, along with the rising price of Bitcoin, points to a possible resurgence of institutional demand for Bitcoin, and the trend shift in ETFs could offset the selling pressure that has limited BTC's price for months.

However, the demand from retail investors (buying volumes between $0 and $10,000) remained below 0%, suggesting that low-volume buyers have not yet returned. Over the past year, these investors have lagged behind BTC price breakouts, but they strengthen the price momentum once investor volume turns positive.