Following a record high of $126,200 earlier in the week, Bitcoin experienced a retrace to $121,600. However, optimistic analysts predict a potential surge towards $140,000 within this month. Economist Timothy Peterson’s simulations suggest a 50% chance of exceeding $140,000 by month-end and a 43% probability of staying below $136,000. This bullish outlook is supported by several factors. 2024 has witnessed significant inflows into Bitcoin Spot ETFs, with last week alone seeing an inflow of nearly $3.2 billion. Additionally, the BTC balance on centralized crypto exchanges is at a six-year low, dropping to 2.83 million units, further bolstering the upward trend. This shrinking supply, coupled with corporate acquisitions, suggests continued Bitcoin price growth even after the recent dip.