Bitcoin Surges Past $64,000 For First Time Since 2021

On Wednesday, Bitcoin’s value soared past $64,000, achieving this milestone for the first time since its bull market peak in November 2021. The significant uptick in Bitcoin’s price aligns with substantial investments into U.S.-based spot ETFs, witnessing an addition of over 12,000 bitcoins on Tuesday following approximately 10,000 on Monday. This surge is particularly noteworthy as it precedes the anticipated Bitcoin halving event in April, a quadrennial occurrence that traditionally fuels substantial price increases by reducing the rate at which new bitcoins are generated.

The momentum behind Bitcoin’s ascent has been building for several months, with this week showcasing a particularly robust performance. Just days prior, Bitcoin was trading below $51,000, crossing the $60,000 threshold hours before surpassing $63,000.

As of the latest updates, Bitcoin has seen an increase of more than 10% in the past 24 hours. Similarly, the CoinDesk 20 Index, which tracks the performance of the top cryptocurrencies, has experienced a 7.8% rise within the same timeframe. Enthusiasts and investors are now eagerly eyeing the cryptocurrency’s all-time high of $69,045, recorded on November 10, 2021, as per Coingecko data.

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