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Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;enthusiasts had no shortage of bullish commentary on social media platform X amid a meteoric rise in the price of BTC over the last week — which is now fast approaching a new all-time high price of $69,000. 
As at the time of publication, Bitcoin is trading at $68,300, up 7% over the last 24 hours, <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener nofollow">according</a> to CoinGecko.
However, much of the commentary over the past day has been centered around the behavior of Bitcoin after notching a new all-time high.
<h3 id="bitcoin-once-doubled-its-ath-in-10-days">Bitcoin once doubled its ATH in 10 days </h3>
In March 2013, Bitcoin rallied 158% from $34 to $88 over the month, which included a 10-day span that saw its price double, Bitcoin analyst Dylan LeClair <a href="https://x.com/DylanLeClair_/status/1764704004829852066" target="_blank" rel="noopener nofollow">noted</a> in a March 4 X post.
Several months later, in November 2013, Bitcoin surged from $200 to $1,000 after it surpassed its previous all-time high set a month earlier, <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener nofollow">according</a> to CoinGecko.
A similar pattern emerged again in December 2020. According to CoinGecko, Bitcoin broke its previous high of $19,665 on Dec. 16, 2020, then doubled just 23 days later on Jan. 8.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/bd58e517-4119-4bba-a759-f4ab3207243e.png" alt="" title="">
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 Bitcoin’s change in price since May, 2013. Source: CoinGecko
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</figure>
It ended up continuing to rally up to $63,580 by April 14, 2021 — marking a 222% or three-fold increase in 120 days, CoinGecko data shows.
<h3 id="bitcoin-halving-is-not-even-here-yet">Bitcoin halving is not even here yet</h3>
The price surge in late 2020 was bolstered by <a href="https://cointelegraph.com/learn/bitcoin-halving-how-does-the-halving-cycle-work-and-why-does-it-matter">the halving event</a> that occurred a few months beforehand in May 2020, according to Jaran Mellerud, co-founder and chief strategist of Hashlabs Mining.
However, more than a month before the 2024 scheduled halving, Bitcoin has already neared its all-time high. 
Mellerud previously told Cointelegraph he expects Bitcoin to <a href="https://cointelegraph.com/news/bitcoin-btc-halving-could-move-mining-out-united-states">make a huge run</a> a few months after the upcoming halving, scheduled to occur on April 20, 2024.
<h3 id="bitcoin-index-hits-90-extreme-greed">Bitcoin index hits 90 — Extreme Greed</h3>
Meanwhile, Bitcoin’s score on the Crypto Fear &amp; Greed Index has <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank" rel="noopener nofollow">increased</a> to 90 out of 100 — its highest score since February 2021. There has also been a <a href="https://trends.google.com/trends/explore?date=today%203-m&amp;q=bitcoin" target="_blank" rel="noopener nofollow">resurgence</a> in “Bitcoin” Google searches over the last two weeks as Bitcoin’s price blew past $50,000 and $60,000.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/4486bbf5-fc30-460b-96a6-c6bb47a164dd.png" alt="" title="">
 <figcaption style="text-align: center;">
 Crypto Fear &amp; Greed Index. Source: Alternative.me
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</figure>
The Crypto Fear &amp; Greed Index is weighted on a mix of data sources, including volatility, market momentum and volume, social media, Bitcoin dominance and Google Trend data.&nbsp;
The company behind the index, however, warns that when investors are too greedy, it could mean the market is due for a correction.&nbsp;
<h3 id="bitcoin-demand-is-only-getting-stronger-with-etfs">Bitcoin demand is only getting stronger with ETFs</h3>
Unlike previous bull markets, Bitcoin demand is now also being driven by the recently launched <a href="https://cointelegraph.com/news/spot-bitcoin-etf-inflow-ath-680-m">spot Bitcoin exchange-traded funds</a> (ETFs) in the United States.
The Bitcoin ETFs have recorded $7.35 billion in net inflows since Jan. 11, <a href="https://x.com/BitMEXResearch/status/1763863079421403543" target="_blank" rel="noopener nofollow">according</a> to BitMEX Research, citing data from March 1.
BlackRock’s iShares Bitcoin Trust (IBIT) has been the best performer, reaching the <a href="https://cointelegraph.com/news/blackrock-bitcoin-etf-10-billion-aum-beating-first-gold-spdr">$10-billion asset milestone</a> faster than any ETF in U.S. history last week. 
In a Feb. 14 interview with CNBC, U.S. investor Ric Delman <a href="https://www.cnbc.com/video/2024/02/14/bitwise-matt-hougan-dacfp-ric-edelman-growing-adoption-of-spot-bitcoin-etfs.html" target="_blank" rel="noopener nofollow">predicted</a> Bitcoin ETF flows will have reached at least $150 billion by the end of 2025.
Delman backed up his figure by citing a recent survey that revealed 77% of independent financial advisers want to add Bitcoin to their existing portfolios at an average allocation of 2.5%. He then multiplied this by the size of the financial advisory sector ($8 trillion).
<blockquote class="twitter-tweet">
 If <a href="https://twitter.com/ricedelman?ref_src=twsrc%5Etfw">@ricedelman</a> is right that $150 billion will flow into the bitcoin ETFs by end of next year, things are going to get very crazy <a href="https://t.co/ziBPQuxyNb">pic.twitter.com/ziBPQuxyNb</a>— Pomp (@APompliano) <a href="https://twitter.com/APompliano/status/1764009840215515473?ref_src=twsrc%5Etfw">March 2, 2024</a>
</blockquote> 
“And that’s just independent advisers,” Delman said. “It excludes the wirehouses; it excludes the regional broker dealers; it excludes the institutional investors.”
Recently, Bitwise chief investment officer Matt Hougan said there could be an “even bigger wave” of <a href="https://cointelegraph.com/news/bitcoin-etf-even-bigger-wave-next-few-months-bitwise">institutional capital</a> to come once the “major wirehouses” start offering Bitcoin ETF trades.
Others, including Hougan, have also pointed to the&nbsp;<a href="https://cointelegraph.com/news/bitcoin-etfs-scoop-10-x-more-btc-than-mined">ratio of Bitcoin bought</a> by ETF issuers relative to the Bitcoin mined. Some days, the ratio can reach upward of 10, suggesting that Bitcoin demand is exceeding supply.&nbsp;
Hougan referred to this demand-supply dynamic as “off the hook.”
“There’s too much demand and not enough supply,” Hougan said, adding that it would likely push Bitcoin’s price “substantially higher.”
Related: <a href="https://cointelegraph.com/news/bitcoin-etf-investment-portfolio">How Bitcoin ETFs could impact the average investment portfolio</a>
Meanwhile, Bitcoin is now the ninth-largest asset by market capitalization and is only 0.9% away from flipping Silver, which boasts a market cap of $1.356 trillion, <a href="https://companiesmarketcap.com/assets-by-market-cap/" target="_blank" rel="noopener nofollow">according</a> to Companies Market Cap.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/38e45e11-8001-4dbd-9b72-a3393e93e870.png" alt="" title="">
 <figcaption style="text-align: center;">
 Largest assets by market capitalization. Source: Companies Market Cap
 </figcaption>
</figure>
Bitcoin is rising up the ranks when compared to the valuations of state-issued currencies, too, having recently surpassed the Swiss franc in 13th position, <a href="https://fiatmarketcap.com/" target="_blank" rel="noopener nofollow">according</a> to Fiat Market Cap.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/c3916d02-a154-44ef-a9e4-ede670d2c390.png" alt="" title="">
 <figcaption style="text-align: center;">
 Largest currencies by market cap. Source: Fiat Market Cap
 </figcaption>
</figure>
Magazine: <a href="https://cointelegraph.com/magazine/big-questions-can-bitcoin-payments-make-a-comeback/">Big Questions: How can Bitcoin payments stage a comeback?</a>

Insanely bullish facts and figures about how the bull market may play out

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