Bitcoin, the pioneer of cryptocurrency, has recently surpassed its previous all-time high of $69,000, now reaching $72,000 as of March 2024. This surge is fueled by increased institutional interest, particularly in spot Bitcoin ETFs, which have drawn over $6.5 billion in inflows since their launch. Analysts project even greater growth, with estimates suggesting Bitcoin could hit $150,000 by year-end, supported by the upcoming halving event that will further reduce its supply
Bitcoin’s supply on exchanges has declined to a five-year low, signaling a shift toward long-term holding. Such trends highlight Bitcoin’s continued evolution as a significant asset in both individual and institutional portfolios