Bitcoin Price Targets $101,700 After Spot ETFs’ $700 Million Inflows, Here’s Why

TL;DR:

Bitcoin price has extended its upward momentum after breaking out of a recent consolidation pattern. The breakout signals growing confidence that BTC may be preparing for a larger move.

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.