Wednesday, 17 April 2024

Crypto News

Will BTC reach new ATH before halving?

$BTC ETF Approval Already Priced-In? This Presale Offers Double Digit Returns

  • Bitcoin hits $51k as bulls roar into life: Will BTC reach new ATH before halving?

Bitcoin (BTC) price skyrocketed past the $51,000 level on Wednesday morning, recouping all losses suffered as the benchmark crypto mirrored stocks on Tuesday.

The gains have seen the pioneer crypto reach a market capitalization of $1 trillion, a milestone last seen in December 2021. 

According to data from CoinGecko, the price of Bitcoin hovered around $51,500 early morning on February 14. The BTC/USD pair traded more than 2% up across major cryptocurrency exchanges, with prices on Coinbase having shot to an intraday high of $51,708 as of writing.

As BTC bulls eye a higher move, is Bitcoin poised for a march to a new all-time high pre-halving? With BTC showing fresh signs of an upside continuation, some analysts are saying the cryptocurrency could surge to higher levels in coming weeks. Crypto investor and analyst WhalePanda noted on X:

The upcoming BTC halving and the massive demand witnessed within the spot Bitcoin ETF market are key catalysts. For the latter, there were nearly $631 million in inflows on Tuesday. 

Data shows BTC spot ETFs have recorded net inflows for thirteen consecutive trading days, with cumulative net inflows at $3.89 billion as of February 13.

Bitcoin’s halving is set for April this year. 

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