Bitcoin (BTC) Eyes Major Rally: Growing Demand to Drive Recovery  

Bitcoin (BTC) is anticipated to experience a major rally, driven by growing demand from both institutional and retail investors. Institutions, in particular, play a crucial role in the current bull run, with the Grayscale Bitcoin Trust (GBTC) recently recording significant inflows. The launch of spot Bitcoin Exchange Traded Funds (ETFs) has also contributed to the bullish trend, as evidenced by the Net Unrealized Profit/Loss indicator showing Euphoria in the market. The previous halving led to a surge in demand eight months later, but this time around, the same effect has been observed nearly six months before the halving. With ETFs continuously driving demand, the recovery could be expedited. Additionally, the attractive risk-reward ratio and positive green zone of the Reserve Risk indicator make BTC an appealing investment for retail investors. Looking ahead, a potential breakout is anticipated, with the target being a 45% rally and a breach of the current all-time high. However, a failure to breach the upper limit of the flag pattern could result in a price drop to $61,000, potentially invalidating the bullish thesis.