Bitcoin experienced a significant rally, surpassing $73,000 – a six-week high – fueled by substantial ETF inflows totaling $789 million for the week, the largest since February. BlackRock led inflows, while Grayscale continued to see outflows, indicating a shift towards more cost-effective ETF options. This surge coincided with the release of US CPI data, which showed inflation at 3.3%, slightly above expectations, but didn't derail Bitcoin's momentum. Market reaction suggests the inflation data was largely priced in. On-chain data reveals a tightening supply, with whale inflows dropping and long-term holders accumulating. Technical analysis points to potential resistance around $75,400 and $80,000, while some analysts predict a potential short squeeze. However, concerns remain about potential “one final dump” before a sustained bull run, and centralization issues within related projects like Bittensor (TAO) caused a 16% price drop for that token.
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