This Wednesday, in the early European hours, Bitcoin surpassed the $59,000 threshold, recording a 5% increase in the last 24 hours and reaching a market capitalization of $1.2 trillion.
This significant surge occurred as Bitcoin Spot ETFs recorded over $3 billion in cumulative trading volumes on Tuesday, fueling demand.
Bitcoin Halving Anticipation
Some traders also attribute this rise to the approaching Bitcoin halving event, scheduled for April, anticipating a pre-halving rally. Bitcoin short positions have seen $25 million in liquidations since this morning, according to Coinglass data, which may have contributed to the price surge.
Performance of Major Tokens
Furthermore, leading tokens such as Ethereum (ETH), Solana’s SOL, and XRP have recorded gains of up to 3% since this morning.
