Millennium Management, a prominent investment firm, currently holds approximately $2 billion in Bitcoin-linked exchange-traded funds (ETFs), sparking speculation about their bullish outlook for the cryptocurrency.

**Bitcoin Rebounds Strongly, Surpassing $65,930**Bitcoin witnessed a strong rebound, surpassing the $65,930 mark and reaching a peak of $66,591 on Thursday. Softer-than-expected US inflation data fueled this surge by increasing the likelihood of interest rate cuts and boosting investor confidence across the cryptocurrency market.**Positive Spillover Effect Across Major Cryptocurrencies**As Bitcoin climbed, it catalyzed gains across other major cryptocurrencies like Ethereum, Dogecoin, and Ripple, leading to a significant boost in the global cryptocurrency market capitalization, which soared to $2.39 trillion – an impressive 5% gain within the past day.**Institutional Support for Bitcoin Grows**Millennium Management, a prominent hedge fund, has significantly invested in Bitcoin ETFs, holding nearly $2 billion in assets, demonstrating strong institutional support for the digital asset.**Millennium Management's Extensive Investment Portfolio**Millennium Management's investment in spot Bitcoin ETFs totaled approximately $1.94 billion by the end of March, spread across prominent ETFs such as ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin ETF.**Growing Institutional Interest and Positive Outlook**The significant engagement of professional investors like Millennium suggests robust institutional interest in Bitcoin, reinforcing a positive outlook for its future. Matt Hougan of Bitwise expressed optimism, indicating the potential for combined assets under management (AUM) to reach $5 billion.**Economic Data Fuels Uptrend**Yesterday, Bitcoin surged above $66,000 on the back of softer-than-anticipated US Consumer Price Index (CPI) data, which revealed a slower inflation rate of 0.3% month-over-month for April, below the anticipated 0.4%. This unexpected slowdown heightened investor expectations for potential rate cuts.**Increased Inflows for Bitcoin ETFs**On May 15, US-based Bitcoin ETFs witnessed a significant inflow of $303 million, the highest since early March. Fidelity’s FBTC fund and Bitwise’s BITB fund attracted $131 million and $86 million, respectively. Notably, Millennium Management is the largest institutional holder in this space with an investment of $2 billion across various Bitcoin ETFs.**Strong Market Performance and Growing Confidence**This remarkable inflow of funds, coupled with favorable economic indicators, has significantly bolstered Bitcoin’s market value, pushing its price to $66,000. This trend underscores the growing investor confidence in cryptocurrencies as a viable investment amidst shifting economic conditions.