Bitcoin is making a bullish comeback, surging past the $70,000 mark for the second time in 2024. On Monday, it soared by 7.1% to hit $70,816 at market close. What's intriguing is that the leading crypto has maintained this momentum, hovering around $70,806.91 with a 5.22% surge in the past 24 hours.

The uptick in Bitcoin's value is attributed to two key factors: increasing demand and steady inflows. Firstly, demand for the token has been rising steadily since the US Securities & Exchange Commission approved 11 Bitcoin ETF applications, allowing traders to access the token without direct exposure. Secondly, despite selling pressure from Grayscale, inflows into the ETF have remained consistent, indicating resilience in its growth despite recent fluctuations.

Nathanaël Cohen, Co-Founder of INDIGO Fund, weighed in on the situation, noting that despite a slowdown in inflows, there are signs that traders are ready to seize opportunities to buy Bitcoin when its value dips. This indicates a persistent interest among traders to add BTC to their portfolios regardless of short-term fluctuations.

Optimism within the crypto community has been fueled by robust inflows into the ETF, with speculation rife about the imminent launch of other crypto ETFs. The Ether ETF is currently leading the pack, anticipated to hit the market by the year's end.

Companies with exposure to crypto assets have seen a surge in their stock values. MicroStrategy, known for its staunch support of BTC, witnessed a 20% increase in its share price, while Coinbase Global and Marathon Digital surged by 9% and 5%, respectively.

Several cryptocurrencies have experienced an uptick in value, with ETH rising by 5.26% to $3,653.91, SOL by 3.15% to $195.09, and DOGE by 5.05% to $0.1815.

Despite a recent $900 million outflow from ETFs, the rise in BTC and other cryptos remained significant. Some analysts predict further gains in BTC following the conclusion of Bitcoin Halving, with forecasts suggesting a year-end target of $100,000. However, others believe BTC could surpass uncertainties to reach milestones of $150,000 or $120,000.

The recent surge in BTC and other cryptocurrencies underscores high demand and inflows. While the market may continue to be volatile in the coming days, investment decisions should be made based on individual risk assessments.