Today, Bitcoin $BTC is trading around $95,308, marking a significant recovery from April's lows near $75,000. This rally is attributed to several factors:
- Accumulation by large investors: Data indicates that "whales" are actively buying $BTC , suggesting confidence in the market. CoinDesk
- Massive inflows into ETFs: There have been recorded inflows of $2.2 billion into Bitcoin-related exchange-traded funds, further boosting the price.
- Optimistic long-term outlook: ARK Invest has projected that Bitcoin could reach up to $2.4 million by 2030 in its most optimistic scenario. GU Business+2Finger Lakes 1+2Basic Crypto+2
Additionally, the recent easing of restrictions for U.S. banks to offer cryptocurrency-related services could open new doors for institutional adoption. TradingView
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