Bitcoin hit a record high of $73,836 before falling 12%, stabilizing around $67,718.

Standard Chartered forecasts Bitcoin could surge to $150,000 by late 2024, with a potential high of $250,000 contingent on ETF inflows and reserve manager interest.

A crypto analyst expects Bitcoin to reach $500,000 by mid-2025, while anticipating significant market dips.

US spot bitcoin ETFs have seen record inflows, with BlackRock's iShares Bitcoin Trust leading at $2.4 billion of the $2.9 billion total last week.

The SEC's approval of 11 spot Bitcoin ETFs in January has contributed to record inflows, signaling strong investor interest.

Despite the possibility of a deeper market correction, the outlook for Bitcoin's price remains positive, with predictions of reclaiming the $70,000 mark and further growth.

Profit-taking by short-term Bitcoin holders is on the rise, but the introduction of Bitcoin spot ETFs and institutional interest may counterbalance potential market downturns.

Supply-demand dynamics favor Bitcoin's price increase, with ETF issuers purchasing from secondary markets to satisfy demand.