The price of Bitcoin has reached new all-time highs much faster than analysts had expected. A substantial upswing kicked off a few weeks after the approval of the Bitcoin Spot ETF.
Bitcoin has surged so rapidly that several market analysts state we are in an “up only” trend, and BTC’s price is poised for further gains.On his X account, renowned crypto analyst Ali shared a post about Bitcoin’s future price trajectory using the Bitcoin MVRV Pricing Bands. Reaching such levels would mean trouble for Bitcoin shorts, who might struggle to put downward pressure on BTC’s price,Ju’s rationale is that, as long as Bitcoin Spot ETF inflows keep coming, bears would stand no chance against bulls as demand significantly outpaces the available supply — considering that BTC ETFs have accumulated nearly $30 billion.
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