Bitcoin surged past $78,000 on April 22, marking a significant milestone as the cryptocurrency market experienced an overall increase of approximately 2.3%. Analysts attribute this rise to a short squeeze and substantial inflows into Bitcoin ETFs, which have seen net inflows of about $1.8 billion over the past three weeks. Market sentiment has also improved, with the Fear and Greed Index climbing from 8 at the beginning of April to 33, moving out of the "extreme fear" zone. K33 Research suggests that while short-term momentum may continue, a full-fledged bull market will require additional support.