Crypto billionaire Mike Novogratz said on Wednesday that

BTC's recent rally has been driven by widespread adoption of cryptocurrencies rather than macroeconomic factors
Therefore, it is unlikely that the BTC price will fall below $50,000 again.
He said in an interview with the majority of BTC: I don't think we're going to go back to $50,000 or below.
I think it's the new bottom, unless something dramatic happens.
There was a $1 billion inflow into the ETF last night, and as long as it is positive, the price will continue to move higher.
Once a negative value is reached, you will see a real pullback for the first time.