Bitcoin

<a href="https://bitcoinworld.co.in/bitcoin-btc-price-touches-64k-nearing-all-time-high-as-halving-approaches/" title="Bitcoin (BTC) Price Touches $64K, Nearing All-Time High as Halving Approaches" rel="nofollow"></a>
Bitcoin (BTC) <a href="https://coinstats.app/coins/bitcoin/">price</a> surged over 10% to a new yearly high of $64K on February 28 before dropping slightly to its current price.&nbsp; 
This impressive rally, which pushed the price up by 50% this month, is largely attributed to investor anticipation surrounding the upcoming supply halving event, historically followed by price increases. 
<figure id="attachment_67212" aria-describedby="caption-attachment-67212" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-67212" src="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-31-483x300.png" alt="" width="597" height="371" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-31-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-31.png 760w" sizes="(max-width: 597px) 100vw, 597px">
 <figcaption id="caption-attachment-67212" class="wp-caption-text">
 BTC Price Chart | Source: Coinstats
 </figcaption>
</figure> 
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Furthermore, the steady influx of capital into newly launched spot Bitcoin exchange-traded funds (ETFs) is believed to be fueling this upward trend.&nbsp; 
However, some technical analysts caution against excessive optimism.&nbsp; 
They warn that the current market structure and high funding rates across the board indicate extensive leverage use, potentially leading to a correction triggered by forced liquidations. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-surpassed-the-60k-mark-whale-activities-increase/" aria-label="“Bitcoin Surpassed The $60k Mark, Whale Activities Increase” (Edit)">Bitcoin Surpassed The $60k Mark, Whale Activities Increase</a> 
Shortly after reaching $64,000, a sudden price drop saw Bitcoin plummeting to $58,700.&nbsp; 
This is likely attributed to a combination of selling pressure at the $64,000 level and the liquidation of leveraged long positions.&nbsp; 
However, Bitcoin has managed to recover nearly 5% of the lost ground at the time of writing. 
With Bitcoin currently sitting less than 13% below its all-time high, both retail and institutional investors hold onto the expectation that the record of $68,900 will be surpassed before the supply halving event in approximately 52 days.&nbsp; 
However, the potential for a correction due to excessive leverage and the uncertain market dynamics necessitate cautious optimism in the near future. 
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The post <a href="https://bitcoinworld.co.in/bitcoin-btc-price-touches-64k-nearing-all-time-high-as-halving-approaches/">Bitcoin (BTC) Price Touches $64K, Nearing All-Time High as Halving Approaches</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Bitcoin (BTC) Price Touches $64K, Nearing All-Time High as Halving Approaches

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