After experiencing a significant rise, the price of Bitcoin broke through a record high of US$69,000 on the evening of March 5, with the total market value exceeding US$1.3 trillion. However, this achievement did not last long. Subsequently, Bitcoin suffered a violent price retracement, with a drop of more than 8% at one time, triggering widespread market attention and discussion on the market outlook.

There are multiple factors behind this price fluctuation. First, the approval of the Bitcoin spot ETF has enhanced the market appeal of Bitcoin and introduced a large amount of new funds from institutions, which is seen as a key driving force for Bitcoin to set a new historical record. Bloomberg ETF analyst James Seyffart revealed that the daily trading volume of Bitcoin spot ETFs in the United States alone reached US$10 billion, setting a new record. In addition, factors such as global economic trends, market sentiment, the improvement of the regulatory system, and technological innovation have also had an impact on the price trend of Bitcoin.

As the Bitcoin halving event approaches in late April, the market has mixed reactions. Some analysts believe that according to historical rules, Bitcoin's "super bull market" often occurs about half a year after the halving. This cyclical market dynamic may happen again, pushing Bitcoin prices up further. But at the same time, there are also views that Bitcoin prices may experience a period of adjustment after the halving event. JPMorgan Chase even predicted in its report that Bitcoin prices may fall to $42,000 after the halving.

In this complex market environment, investors’ attitudes are also divided. On the one hand, some believe that Bitcoin’s status as digital gold is strengthening and is bullish in the long run; on the other hand, some people remind investors to pay attention to the high volatility of Bitcoin and suggest adopting a cautious investment strategy and doing a good job of risk control.

The upcoming June 12th is generally expected to be a critical time node. Whether Bitcoin can break through a new high again will depend on the combined effect of multiple factors, including the global macroeconomic situation, changes in the policy environment, and the psychological expectations of market participants. In this context, investors should remain rational, pay close attention to market dynamics, and rationally allocate assets to cope with various possible situations. #BTC☀️ #BTC走勢分析 #BTC走势预测