<p>In a monumental milestone for the world’s leading cryptocurrency, the Bitcoin price has skyrocketed to an unprecedented all-time high (ATH), surpassing the remarkable threshold of <a href="https://www.newsbtc.com/bitcoin-news/market-survey-signals-bull-run-investors-predict-bitcoin-to-surpass-69000-post-halving/" target="_blank" rel="noopener noreferrer nofollow">$69,000</a>.&nbsp;</p> <img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/TxKWfzC4/" alt="Bitcoin " width="1815" height="858">
<h2 id="bitcoin-price-breaks-records">Bitcoin Price Breaks Records</h2>
<p>The recent approval of spot Bitcoin exchange-traded funds (ETFs) on January 10 was a significant catalyst behind this surge. The market reacted with great excitement as the long-awaited <a href="https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023" target="_blank" rel="noopener noreferrer nofollow">decision</a> by the US Securities and Exchange Commission (SEC) paved the way for greater accessibility and legitimacy of Bitcoin investments.</p>
<p>Throughout 2023, the Bitcoin price exhibited a notable uptrend, starting from its low of <a href="https://www.newsbtc.com/news/bitcoin/why-the-bitcoin-price-has-a-high-chance-of-resting-at-16000/" target="_blank" rel="noopener noreferrer nofollow">$15,400 in November 2022</a>, which marked the end of the crypto winter and bear market. However, as 2024 began, the industry was buzzing with anticipation of the SEC’s potential approval of bitcoin spot ETFs.</p>
<p>After the approval, the Bitcoin price – which had already recovered from the previous bear market and was trading above $40,000 – surged to the $49,000 mark, followed by a sharp drop to the $41,500 support line the next day. Many market pundits <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-spot-etf-sell-the-news/" target="_blank" rel="noopener noreferrer nofollow">interpreted </a>this as a “sell the news” event.&nbsp;</p>
<p>However, contrary to the critics’ expectations, the investment vehicles proved to be a resounding <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-etfs-threaten-golds-dominance-as-digitalization-trends-gain-momentum/" target="_blank" rel="noopener noreferrer nofollow">success </a>and gained increased institutional acceptance. Consequently, the Bitcoin price rebounded and continued its upward trajectory, defying any resistance and establishing a strong bullish sentiment.</p>
<h2 id="bull-run-unleashed">Bull Run Unleashed</h2>
<p>As Bitcoin reaches this new ATH, the absence of setbacks or resistance walls across all time frames suggests that this may be one of the most significant bull runs in Bitcoin’s storied history.&nbsp;</p>
<p>Notably, market analysts and experts have already considered the possibility of Bitcoin reaching extraordinary price milestones of $100,000 by 2024 or even $200,000 by 2025, as previously <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-price-prediction-etc-group-anticipates-surpassing-100000-by-2024/" target="_blank" rel="noopener noreferrer nofollow">reported </a>by NewsBTC.</p>
<p>Nonetheless, future regulatory decisions and macroeconomic factors will undoubtedly shape Bitcoin’s price trajectory and ability to reach even higher levels.</p>
<p>Featured image from Shutterstock, chart from TradingView.com</p>

BREAKING: Bitcoin Price Soars To New All-Time High Above $69,000

Table of Contents

NewsBTC

Other articles published on Mar 5, 2024

Shiba Inu enters top 10 cryptos, whale activity skyrockets

Sell signal for two overbought cryptocurrencies this week

Meme Coin Trends Are Godlike: Trader Accurately Predicts Myro’s Rally

EXCLUSIVE: Bitcoin Hits New All-Time High: Here's When Benzinga Readers Think $100K Milestone Cou...

Cryptocurrency Optimism's Price Increased More Than 13% Within 24 hours

MediBloc (MED) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Join our free newsletter for daily crypto updates!