Ark Invest March Report: BTC prices are still in the early to mid-stage of the bull market, with halving events and ETFs supporting prices

ChainCatcher news, according to DLNews, the March report released by Ark Invest shows that the institution believes that the price of Bitcoin is still in the early to mid-stage of a bull market compared with past cycles.

In addition, the agency is also optimistic about the performance of Bitcoin scaling solutions (such as Rollup and sidechains) in this round, believing that this track has strong momentum since the second half of 2023. Given factors such as Bitcoin’s price appreciation, these trends may will continue in the current bullish cycle.

Regarding CPI data, the agency believes that this negative CPI directly affects market liquidity and risk tolerance, so it can theoretically limit speculative trading activities in the crypto market. But inflows such as those surrounding the upcoming halving event and U.S. spot Bitcoin ETFs could help support Bitcoin’s price in the short to medium term.