Bitcoin (BTC) price has maintained an upward trend in Q1 2024 pushing the wider market to new highs. In recent weeks, several bullish investors have projected new highs for the market on the back of spot Bitcoin ETF approval by the United States Securities and Exchange Commission (SEC).
A new market report from on-chain analysis firm CryptoQuant shows an expected surge in the price of Bitcoin over the next few months. While the current cycle’s peak has not been attained, the market has faced slight corrections in recent weeks due to macroeconomic factors.
The peak of a bull market is determined by the influx of new investors
“We can expect that the market has not yet reached its peak, & since we can now expect additional inflows from #Bitcoin ETFs, we could see a sharp further rise in $BTC.” – By @DanCoinInvestor
Link … pic.twitter.com/wjQFrO87xn
— CryptoQuant.com (@cryptoquant_com) April 11, 2024
New Investors Trickling In
The analyst noted that inflows recorded
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