Bitcoin's price took a big jump after news that inflation in the US went down. The Consumer Price Index (CPI) data came out, and Bitcoin went from $62,000 to over $66,000 in just a few hours. Right now, it's at $65,949.63, up 7% from yesterday.

Impact of Bitcoin ETFs on the Rise

The rise in Bitcoin's price was helped by Bitcoin Spot ETF. People really like Bitcoin ETFs, especially with news that the Ethereum ETF might not get approved. One analyst said Blackrock IBIT was the most popular, with 414 owners reporting in the first 13F season. This is more than other Bitcoin ETFs like Bitwise’s BITB and Fidelity’s FBTC.

Singapore-based QCP Capital thinks Bitcoin's price will keep going up to $72,000 or higher. They looked at the technical stuff and saw that Bitcoin is in a good buying zone. Other crypto experts think the same. Dr. Crypto Ninja even said Bitcoin could reach $74,000, $84,000, and $100,000. Also, the Bitcoin Support ETF is helping Bitcoin go up.

Current Status of BTC ETFs

The State of Wisconsin put $99 million into the BlackRock ETF, making it the most popular. Hedge Fund Millennium Management has almost $2 billion in five Bitcoin ETFs. QCP Capital said big asset managers like Millennium and Schonfeld are putting some of their tokens into the Bitcoin Spot ETF. This could help Bitcoin's price go up even more.

Even with new tokens coming out, Bitcoin is still popular. El Salvador has a lot of Bitcoin too. They have over 5,000 BTC, worth more than $379 million. With all this support, Bitcoin might hit $72,000 soon. The cryptocurrency market went from being neutral to greedy because of today's news. With more people wanting Bitcoin spot ETFs, Bitcoin aims for $72,000 by the end of the month.