In a remarkable turn of events, Bitcoin Exchange-Traded Funds (ETFs) have recorded a staggering $252 million in inflows on May 24th, marking the tenth consecutive day of positive net flows. This surge in investment coincides with Bitcoin's impressive price rally, as the cryptocurrency breaches the crucial $68,000 mark.

According to data from SoSoValue, BlackRock's Bitcoin ETF, IBIT, led the charge with $182 million in inflows, followed by Fidelity's FBTC with $44 million. Other notable contributors include ArkInvest and 21Shares' ARKB with $4 million, Bitwise's BITB with $6 million, and VanEck's HODL with $16 million.

The total net asset value of these Bitcoin ETFs now stands at a staggering $59 billion, reflecting the growing institutional interest and confidence in the cryptocurrency market.

Bitcoin's price surge has been fueled by a combination of factors, including the recent easing of inflation to 3.4% in April, as reported by the refreshing CPI data. Additionally, new proposals regarding the Bitcoin network's programmability have been well-received by developers, who see them as potential catalysts for further price appreciation.

The positive sentiment has been further bolstered by the U.S. House of Representatives' passage of the FIT21 bill, which aims to establish legal guidelines for the digital asset industry. This move has triggered a wave of optimism across the crypto market, with Bitcoin leading the charge.

Analysts remain bullish on Bitcoin's future prospects, with Willy Woo predicting that if BTC holds its price near current levels, new all-time highs (ATHs) could be achieved soon. Woo also highlighted that after breaking an ATH, Bitcoin's price is expected to move violently relative to capital inflows, driving up risk and leading to rapid gains.

As the crypto market continues to evolve and mature, the influx of institutional investment and the growing regulatory clarity are likely to fuel further growth and adoption of Bitcoin and other digital assets.