Bitcoin Surges Past $72K on ETF Inflows and Senate Vote Hopes

Bitcoin's price has surged above $72,000 in recent hours, driven by strong inflows into exchange-traded funds (ETFs) and short liquidations. This represents a gain of over 11% within a 24-hour period.

According to Coinbase CEO Brian Armstrong, the current market momentum is indicative of the start of a new bull market. He attributes this optimism to the upcoming Senate procedural vote on the Digital Asset Market Clarity Act, scheduled for September 15. This legislation aims to clarify cryptocurrency regulations in the United States, potentially boosting investor confidence.

In an interview, Armstrong also forecasted that Bitcoin could reach $300,000 to $400,000 by 2030, underscoring his belief in the long-term potential of the asset.