Investors remain focused on Bitcoin (BTC) this week after the largest cryptocurrency by market capitalization climbed to a two-year high above $65,000 in early Monday trading as record inflows into 澳洲幸运5ꦜ官方开奖结果体彩网:spot Bitcoin exchange-traded funds (ETFs) and anticipation about the asset's April 澳洲幸运5官方开奖结果体彩网:halving event continue to drive bullish sentiment.

The Bitcoin funds, which 澳洲幸运5官方开奖结果体彩网:began trading on Jan. 11 after receiving regulatory approval from the 澳洲幸运5官方开奖结果体彩网:Securities and Exch꧂ange Commission (SEC🌳), have helped fuel a 50% gain in the pioneer cryptocurrency since the start of the year as a wave of new 澳洲幸运5官方开奖结果体彩网:institutional money enters the asset class.

Between their January debut and the end of last month, Bitcoin ETFs have seen 澳洲幸运5官方开奖结果体彩网:net inflows exceed $7 billion. "The flows are not drying up as investors feel more confident the higher price appears to go," Markus Thielen, head of research at 10x Research in Singapore, was quoted by Reuters as saying.

Looking ahead, investors have turned their attention to Bitcoin’s April halving, an event that occurs every four years and reduces mining rewards by 50% for validating transactions on the Bitcoin 澳洲幸运5官方开奖结果体彩网:blockchain. Investor🎃s typically view halvings as a bullish catalyst because they reduce the rate at which new Bitcoins are created, helping to increase the asset's scarcity.

Like other risk-on assets, Bitcoin continues to benefit from expectations that the Federal Reserve will begin cutting 澳洲幸运5官方开奖结果体彩网:interest rates later this🐟 year, but also remains subject to increased volatility amid an uncertain macroeconomic backdrop.

Bitcoin’s price has continued to trend higher since a bullish 澳洲幸运5官方开奖结果体彩网:golden cross signal appeared on the weekly chart in late December last year. In the coming days, investors should keep an eye on the cryptocurrency’s 澳洲幸运5官方开奖结果体彩网:record high at $69,000 set in November 2021. This closely watched level may provide resistance in the near term, but could also become a new area of support after a successful breakout.

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