A well-known analyst, Markus Thielen, who previously forecasted Bitcoin's all-time high and its subsequent drop below $60K, has identified a new significant event regarding Bitcoin ETFs. Thielen, also the CEO of institutional crypto research firm 10x Research, revealed in a recent report that a fresh trading alert for Bitcoin ETFs has been activated. He suggests that Bitcoin's price might climb quickly due to substantial purchasing by both institutional and retail investors.

On May 18, Markus Thielen announced the activation of a new trading signal for Bitcoin ETFs. He pointed out that the last signal, triggered on January 30, led to a substantial inflow into U.S. spot Bitcoin ETFs. This resulted in Bitcoin holdings in BlackRock's ETF exceeding those of Grayscale's GBTC. Thielen noted, "Many have requested we apply our trading signals to crypto-related stocks, such as Bitcoin miners and diversified crypto stocks like Coinbase. While not every signal will be successful, they typically have a 70-80% probability of signaling the end of a stagnant trading range."

Last Friday, GBTC indicated a buy signal, similar to previous occasions that saw significant buying activity. Following recent inflows into GBTC, there is renewed optimism about Bitcoin's price, further supported by cooling inflation rates in the U.S. Thielen believes these signals for GBTC are also relevant for newer ETFs like BlackRock’s IBIT, offering institutional investors and analysts insights into potential Bitcoin price movements.

Bitcoin's price has surged past $67,000 this week, driven by positive sentiment and a weekly increase of over 10%. The 24-hour trading range was between $66,289 and $67,459. The rise, despite low trading volumes, suggests that large investors are becoming bullish on Bitcoin, leading to the liquidation of high-leverage positions.

Additionally, CME Bitcoin futures open interest increased by 5% in the last 24 hours, indicating significant buying from futures traders. Overall, BTC futures open interest rose by 2% during the same period.

Another renowned analyst, Rekt Capital, believes that Bitcoin only needs to drop by 1% to complete a post-Bull Flag breakout retest, which could ensure the continuation of its upward trend.

In conclusion, with positive signals from ETFs and growing interest from large investors, the future looks bright for Bitcoin, potentially pushing its price towards the $80K mark.