Bitcoin price trends tied to ETFs, futures leverage and stablecoin liquidity in 2024–2025

From March to October 2024, Bitcoin traded between $50,000 and $74,000 before a 56% post‑election rally that coincided with a sharp rise in futures open interest. Spot ETF inflows of about $35 billion in 2024 and roughly $22 billion in 2025, together with a 50% drop in stablecoin exchange inflows, showed how sustained capital and liquidity, rather than headlines alone, shaped Bitcoin's breakouts and consolidations. Long-term holders realizing over $1 billion per day in profits and a halving of the Bitcoin-to-gold ratio further constrained upside in 2025 despite bullish narratives.