Bitcoin has experienced significant uncertainty over the past two weeks, as evidenced by its consolidation within a triangle structure. Two converging trendlines acting as active resistance and support levels have narrowed the price gap for BTC and restored its bullish momentum.
As a result, the price of the token has jumped from $65,970 to $70,951, a 5% increase, in the past three days, as inflows into BTC spot ETFs continue to increase.
The latest data shows that Bitcoin's market capitalization is $1.396 trillion, while 24-hour trading volume jumped 30% to $37.6 billion, reinforcing bullish momentum.
Bitcoin spot ETFs have seen staggering inflows, with a record $887 million inflows on June 4, the second highest in history. The main contributors were Fidelity Bitcoin ETF ($379 million), BlackRock's IBIT ($274 million), and Grayscale's GBTC ($28,195,700).
This surge brings the total asset value to $61.46 billion, illustrating investors’ strong confidence in Bitcoin as a viable investment.
If this pattern holds, the Bitcoin price prediction suggests a potential target price of $75,000, followed by continued upward momentum to $88,000.
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