Bitcoin skyrocketed to $97,000, its highest in months, driven by unprecedented institutional investment and macroeconomic tailwinds. Breaking a technical pennant pattern, the rally has analysts targeting $100,000 as the next milestone.

X posts report $917 million in single-day Bitcoin ETF inflows, with purchases outpacing the 1,350 BTC mined daily. Standard Chartered credits Federal Reserve policy concerns for boosting Bitcoin’s appeal as an inflation hedge, predicting new highs by mid-2025.

CryptoQuant data shows 24,534 BTC acquired by ETFs in 72 hours, with giants like BlackRock and Fidelity leading the charge. The U.S. Strategic Bitcoin Reserve, holding 200,000 BTC, further tightens supply, amplifying bullish sentiment.

However, some X posts overstate ETF impacts, and TradingView warns of resistance at $107,000. Investors are advised to diversify portfolios, monitor ETF flows, and prepare for volatility. Bitcoin’s surge reflects its growing legitimacy as a mainstream asset, with institutional adoption outpacing retail.

Critics caution about speculative bubbles, but the rally’s fundamentals—scarcity and demand—suggest sustained growth. The reserve’s launch has sparked global interest, with nations like El Salvador (6,101 BTC) reinforcing Bitcoin’s strategic value. For investors, tracking macroeconomic signals and legislative developments, like the BITCOIN Act, is crucial.