Key Points
Bitcoin (BTC) has achieved a significant milestone by reaching $64,000.
This is the first occurrence since the peak of the 2021 bull run.
In the last two days, Bitcoin’s price has escalated from $51,000 to briefly touching $64,000.
The surge in price is a result of the Bitcoin ETF and the impending halving event.
Bitcoin’s Price Surge and Halving Event
During the halving event, investors typically purchase more Bitcoin than what is mined daily.
A supply shock occurring this early before the Bitcoin halving is not unusual.
The price generally increases before each halving.
However, if Bitcoin achieves a new all-time high before the halving, it would be a first in the cryptocurrency’s history.
Institutional investors are showing bullish tendencies as the Bitcoin ETFs witness record-high inflows.
Furthermore, the Fear and Greed Index is displaying a score of 80.
This score indicates extreme greed in the crypto market.
