K33 Research: Perhaps driven by Bitcoin spot ETFs, BTC’s return to historical highs will be significantly accelerated

K33 Research senior analyst Vetle Lunde and vice president Anders Helseth said: The decline has lasted for 755 days and is currently about 36% lower than Bitcoin’s historical high (about $69,000) set in November 2021. By comparison, it took 1,178 days to return to highs after 2013 and 1,092 days after 2017. In this cycle, Bitcoin may return to its high point faster. The reason is that expectations for the approval of a U.S. spot Bitcoin ETF will continue to be a driving force, with past cycles not witnessing the institutional demand now entering the market. While U.S. ETFs are set to receive final rulings within 36 days, the market has shown significant demand to accumulate exposure ahead of the expected launch. Therefore, the current rise is real and convincing. (The Block)