Peter Brandt Predicts New ATH For Bitcoin as BTC Price Surges Past $66K

The post Peter Brandt Predicts New ATH For Bitcoin as BTC Price Surges Past $66K appeared first on Coinpedia Fintech News

Bitcoin (BTC) price invalidated the recent daily downtrend on Wednesday after briefly rallying above $66k. The flagship coin pumped more than 6.6 percent in the past 24 hours to trade around $65,972 on Thursday during the early Asian session. The sudden Bitcoin price pump that significantly influenced the majority of the altcoins was triggered by US inflation data, the Consumer Price Index (CPI), which came in lower than expected every month.

The recent Bitcoin price pump has mirrored major global stock indexes, led by the S&P 500, which rallied to a new all-time high in the past 24 hours. The rising traded volume for the spot BTC ETFs shows that institutional investors’ heightened demand for Bitcoin has helped rejuvenate the bullish sentiment.

According to trading data from market intelligence platform Santiment, the top seven spot Bitcoin ETFs registered a daily traded volume of about $5.65 billion, the highest since March 24. Similarly, Hong Kong-based spot BTC ETFs have registered notable cash inflows since inception, with reports of inevitable adoption by mainland China investors.