Bitcoin's Price Could Reach $74,000 Amid Institutional Demand and Soft U.S. Inflation Figures

Bitcoin's price could surge to $74,000 in the near future due to increased institutional demand and a bullish sentiment for riskier assets following softer-than-expected U.S. inflation figures. Large asset managers such as Millennium and Schonfeld have invested in bitcoin spot ETFs, indicating growing institutional interest. Short-term selling pressure on bitcoin appears to be easing off, according to on-chain and exchange data. This comes after weeks of low volatility in the market, with bitcoin trading within a range of $60,000 to $70,000 since March.