Bitcoin price has surged significantly, propelled by a massive influx of $25 billion, breaking through the resistance level at $31,000.

Europe has emerged as a front-runner in the race to introduce a spot Bitcoin exchange-traded fund (ETF), while the United States grapples with concerns raised by the Securities and Exchange Commission (SEC).

This development comes amidst a surge in consumer sentiment, reaching its highest level in almost two years in July, as inflationary pressures eased across various sectors.

Whereas, the preliminary data from the University of Michigan's consumer sentiment index reveals a reading of 72.6, surpassing expectations of 65.5 and June's figure of 64.4. 

More robust figures typically negatively impact Bitcoin prices, which has led to speculation about the right time to buy bitcoin?