Ark Invest March Report: BTC price is still in the early to mid-stage of a bull market, with the halving event and ETFs providing support for the price

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

Additionally, the institution is optimistic about Bitcoin scaling solutions (such as Rollups and sidechains) in this cycle, believing that this sector has shown strong momentum since the second half of 2023. Given factors such as the appreciation of Bitcoin's price, these trends may continue in the current bullish cycle.

Regarding CPI data, the institution believes that the current CPI's bearish impact directly affects market liquidity and risk tolerance, which theoretically could limit speculative trading activities in the crypto market. However, factors such as the upcoming halving event and the inflow of funds into U.S. spot Bitcoin ETFs may help support Bitcoin's price in the medium to short term.