The Era of Bitcoin ETFs has Arrived After a Decade of Delays

As Bitcoin crests new horizons, I’d like to take this opportunity to thank each and every one of you for your readership. Whether you are a long-term holder that has been through this experience with me for the last two years or a new subscriber, I am sure you will continue to find something valuable in the next paragraphs. Thanks again. Your support is truly appreciated.$67,000 for One BitcoinLast week recorded the highest weekly close ever, which has disproven bearish narratives that have been calling for new lows since the bottom around $29,000. Bitcoin has risen 120% since then. Today, Bitcoin just crested $67,000. If this projection is to hold true, then the crypto could finally consolidate around these levels, potentially providing a window of opportunity for altcoins to catch up.Notably, the ProShares futures-based ETF launch was a success, and did not end up being a ‘sell the news’ event. Still, it’s my view that any meaningful pull back is a buying opportunity.The levels of interest to bid a pull-back are $55,800 and 56,800, respectively, at the time of writing. The higher the parabola, the higher the floor price where buyers will show up. This area offers sufficient confluence for investors to position for new highs, even though there’s no guarantee prices will retreat in the immediate short term.In terms of long-term spot profit-taking, my view is that the market cycle top will be above $100,000 for bitcoin — the rest is just noise. Levered positions are another matter entirely, though, as one must take funding fees, open interest, and other metrics into account.Across key exchanges, funding rates remain tolerable (