According to CoinMeta, Bitcoin ( BTC ) has returned to the $74,000 price level after a 86-day downturn, driven by strong support from US spot Bitcoin ( ETF ) trading volumes exceeding $5.3 billion. Among these, Blackstone's ( IBIT ) trading volume reached $4.44 billion, followed closely by Fidelity's ( FBTC ) with $438 million, and Grayscale at $208.8 million. In addition, spot Bitcoin ( ETF ) also attracted a net inflow of $517.19 million, marking the best inflow day since May 4th. Despite the significant increase in Bitcoin prices, Bloomberg analyst Mike McClone ( Mike McGlone ) remains pessimistic about the market, believing that Bitcoin's original peer-to-peer cash use case has weakened.