Bitcoin saw a significant increase of 67% in value in the first three months of the year, mainly attributed to the introduction of Exchange-Traded Funds (ETFs) in January. The price could have potentially hit $100,000 if not for the unexpected outflows from the traditional GBTC Trust, which somewhat dampened the celebration.

Despite this hiccup, bitcoin has managed to climb back to its peak value, reaching an all-time high once again, with the BlackRock ETF quickly becoming the most sought-after investment product in history. The backing from the largest investment fund globally has energized investors who were eagerly anticipating more regulatory certainty in the cryptocurrency market.

A clear relationship is evident in the provided chart, showcasing a direct connection between the increased flow of funds into ETFs and the corresponding rise in the price of bitcoin. This correlation highlights the growing influence of these investment vehicles on the cryptocurrency market's performance.