Bitcoin hits $51k: Will BTC attain new ATH earlier than halving?

• Bitcoin hits $51k as bulls roar into life following Tuesday’s markets response to CPI knowledge.
• BTC worth rose to highs of $51,708 on Coinbase, with its market cap again above $1 trillion.
• Will BTC attain new ATH earlier than halving?

Bitcoin (BTC) worth skyrocketed previous the $51,000 degree on Wednesday morning, recouping all losses suffered because the benchmark crypto mirrored shares on Tuesday.

The features have seen the pioneer crypto attain a market capitalization of $1 trillion, a milestone final seen in December 2021. 

In response to knowledge from CoinGecko, the worth of Bitcoin hovered round $51,500 early morning on February 14. The BTC/USD pair traded greater than 2% up throughout main cryptocurrency exchanges, with costs on Coinbase having shot to an intraday excessive of $51,708 as of writing.

As BTC bulls eye the next transfer, is Bitcoin poised for a march to a brand new all-time excessive pre-halving? With BTC exhibiting recent indicators of an upside continuation, some analysts are saying the cryptocurrency might surge to larger ranges in coming weeks. Crypto investor and analyst WhalePanda famous on X:

It is quite simple now. You promote your #Bitcoin , you get left behind. There aren’t any dips to purchase.
These CPI numbers and the psychological $50k would’ve dumped us again to $44-45k pre-ETFs.
They tried, they failed, and now they must rebuy larger. They don’t seem to be going to attempt once more.

— WhalePanda (@WhalePanda) February 14, 2024

The upcoming BTC halving and the large demand witnessed throughout the spot Bitcoin ETF market are key catalysts. For the latter, there have been practically $631 million in inflows on Tuesday. 

Knowledge reveals BTC spot ETFs have recorded web inflows for 13 consecutive buying and selling days, with cumulative web inflows at $3.89 billion as of February 13.

Bitcoin’s halving is ready for April this yr.