Bitcoin Price Reclaims $96K as Bitwise CIO Predicts “Parabolic” Run From BTC ETF Flows

TL;DR:

The Bitcoin price is on the comeback as it breached the $96,000 mark, resuming its rally since January. With the momentum it has acquired, Bitwise CIO Matt Hougan expects the token to see a parabolic rise, given the BTC ETF continues with its current inflow.

Key Points:

Background:

Exchange-Traded Funds (ETFs) are investment vehicles that track cryptocurrency prices and trade on traditional stock exchanges. Bitcoin and Ethereum ETF approvals have been major milestones for crypto adoption, allowing institutional and retail investors to gain exposure without directly holding digital assets.

Why It Matters:

ETF approvals are significant because they provide regulated access to cryptocurrency investments for traditional finance investors, potentially bringing billions in new capital to the crypto market. They also signal regulatory acceptance and legitimization of digital assets as an investment class.