Bitcoin Price Prediction as ETF Inflows Rise, CLARITY Act Passing Odds Jump

Key Insights

• Bitcoin price has jumped into a local bull market after rising by 20% from the year-to-date low.
• Spot Bitcoin ETFs are in their second consecutive month of inflows.
• The coin has formed a double-bottom pattern, pointing to more gains.

Bitcoin price has moved into a local bull market after rising by 20% from its lowest level this year. BTC was trading at $72,740 on Saturday, its highest point since March 18 this year.

This rebound may continue in the coming weeks. Spot ETFs are making a comeback, and the odds of the CLARITY Act are rising.

Bitcoin Price May Benefit as Spot BTC ETF Inflows Rise

Data shows that spot Bitcoin ETFs have staged a major comeback in the past two months, a sign of accumulation. These funds have already added $381 million in assets this month after adding $1.3 billion a month earlier.

This is a major improvement after these funds experienced outflows in the previous four consecutive months. Their cumulative net inflows jumped to $56 billion, with the IBIT fund having the biggest market share.

The ongoing inflows may continue after Morgan Stanley, a giant Wall Street bank, launched its Bitcoin ETF. This is a big move considering that it is a top bank with over $1.4 trillion in assets. It also administers over $9 trillion in wealth management assets, making it the biggest player in the industry.

Most notably, more unique Bitcoin ETFs are making headlines. For example, BlackRock is working on a new premium income ETF that will pay investors double-digit returns using a covered call ETF strategy. These ETFs have become popular among income investors, who are attracted to the high monthly returns.

AfterDark ETF, on the other hand, filed the NIGHT ETF, which aims to strike the disconnect in Bitcoin’s return profile.The fund will take Bitcoin long positions after the market closes at 4 p.m. It will close the swaps the following day before the market opens.

CLARITY Act Passing Odds are Rising

Bitcoin price may also rebound because of the new developments surrounding the Market Structure Bill of the CLARITY Act. Treasury Secretary Scott Bessent made a case for passing the bill, citing the need for promoting innovation in the country.

A new report shows the Senate Banking Committee hopes to vote on the bill’s markup in the second part of April. This will happen once the committee moves out of recess.

The report added that industry leaders and senators hope the bill will reach the Senate floor by the Memorial Day recess. That recess takes place in late May this year.

This is a realization that if the process extends further, Congress will not pass it. Lawmakers will turn their focus to the upcoming midterm elections instead.

Polymarket data shows that odds that the CLARITY Act will pass this year, with the probability rising by 21% to 61%. The same trend is happening in other prediction markets, including Kalshi.

The CLARITY Act aims to dramatically change how the crypto industry is regulated in the United States. Precisely, the bill will divide the functions between the SEC and the CFTC, with the latter having the most power.

The bill comes a year after Congress passed the GENIUS Act, which focused on the stablecoin industry.

BTC Price Prediction: Technical Analysis

The daily chart shows that the BTC price has moved into a bull market. It rose from a low of $60,440 in February to a high of $72,800 today.

Bitcoin has moved above the 50-day Exponential Moving Average (EMA), a sign that the short-term momentum is continuing.

It has formed a double-bottom pattern at $65,200. The neckline stands at $76,065, its highest point on March 17 this year.

The coin is nearing the Major S&R Pivot Point of the Murrey Math Lines tool. A surge above the neckline at $76,065 will confirm the bullish outlook. It could push the price toward the 38.6% Fibonacci Retracement level at $85,590.

The bullish Bitcoin forecast will become invalid if it drops below the key support level at $60,000.

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