Bitcoin’s price surged to $69,000 this week, up from $65,860, amid significant market events like the SEC’s approval of a spot Ethereum ETF. This approval has sparked speculation about Bitcoin reaching a new all-time high soon.
This week also saw the House pass the FIT21 crypto regulation and an anti-CBDC bill. Despite increased market sentiment, macroeconomic factors like US PCE inflation data may pose short-term obstacles.
Crypto analysts predict Bitcoin could hit $100K this year due to expected rate cuts by central banks. On-chain data reveals whales are accumulating BTC, adding $1.4 billion worth recently.
Currently trading near $69,000 with decreased trading volume, Bitcoin’s future remains bullish. Strategic long-term factors indicate high odds of reaching a new high.
