The fourth Bitcoin halving is about seventeen days away, historically triggering the start of a macro crypto bull run.
However, Bitcoin prices have already hit new all-time highs ahead of the halving event, suggesting that institutional investors may be driving the arrival of a super cycle.
Bitcoin prices are currently taking a breather before continuing their bullish momentum.
Bitcoin prices must reclaim support above $70,000 to regain bullish momentum.
Following Tuesday’s rebound, Bitcoin (BTC) prices have shown early signs of recovering to key support above $67,000. According to the latest market data, in early trading on Tuesday, the price of Bitcoin (BTC) was trading around $66,300.
This was driven by ETF outflows, making it the largest drop during the Asian trading hours in the past month.
Data updates for spot Bitcoin ETFs caused volatility in the cryptocurrency market during the Asian trading opening hours after the US stock market closed.
From the daily flow of spot BTC ETFs, GBTC and ARKB saw outflows of $82 million and $88 million, respectively, on Monday.
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