Market observers are advised to remain cautious, as the failure to approve the Strategic Bitcoin Reserve or a lack of retail participation could lead to significant price corrections.

As of February 20, 2025, Bitcoin was trading at approximately $98,247, reflecting a 1.4% increase in the past 24 hours.

Technically, Bitcoin appears to have formed a bull flag on the weekly chart, indicating a possible rally toward $115,097 if capital flows increase.

The trend of Bitcoin being withdrawn from centralized exchanges into private wallets is decreasing market liquidity, which may increase selling pressure.

Long-term and institutional holders are accumulating Bitcoin and retaining their assets, which further tightens supply and creates upward price pressure.

He predicts that Bitcoin could increasingly compete with gold, especially if investors start reallocating funds from gold ETFs to Bitcoin.

Back believes that typical bull market cycles last for a significant period following a halving, suggesting that the current market phase is just beginning.

The daily mining of 900 BTC is creating an imbalance in supply and demand, which is fueling potential price increases.

Back pointed out that once Bitcoin holders sell their assets, they cannot resell them, contributing to a reduction in circulating supply.

In a recent interview, Back emphasized that ETF inflows and growing retail interest are pivotal in driving this ongoing bull market.

He noted that institutional investors are increasingly participating in the market, with 30% of Bitcoin ETF purchases attributed to these entities.

Blockstream CEO Adam Back has announced that Bitcoin is entering a new bull market, fueled by significant inflows from ETFs and institutional investors.