Bitcoin Nears $72,000 Ahead of April Halving, Setting New All-Time High

The upcoming Bitcoin halving and ETF-driven demand have propelled the cryptocurrency to unprecedented levels, with significant implications for investors and miners.

• Bitcoin's price surged to $72,000 by March 12, marking a new all-time high, fueled by unchanged U.S. Federal Reserve interest rates and the anticipation of the April 2024 halving.
• The approval of 11 spot bitcoin ETFs in January has significantly increased public confidence and investment in Bitcoin, leading to daily capital inflows of over $2 billion.
• The halving event, expected to occur in mid-April, will reduce the mining reward from 900 to 450 BTC daily, potentially increasing Bitcoin's scarcity and value.
• Miners face higher operating costs post-halving, with some smaller firms at risk of going out of business, though the overall market impact is expected to be positive.
• Experts predict Bitcoin's price could reach between $100,000 to $120,000 post-halving, driven by ETF demand and the asset's increasing scarcity.

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Blockworks Markets Insider Forbes