What Exactly Drives New Bitcoin (BTC) Price Rallies?

Hot: What's behind the new records that are happening almost every day in Bitcoin prices? The analyst gave an explanation.

Bitcoin has exceeded $72k and reached an all-time high in BTC terms. This increase comes after the US Securities and Exchange Commission (SEC) recently approved a Bitcoin spot ETF.

Speaking to Yahoo Finance, Deutsche Bank Senior Economist Marion Laboure provided information on the factors that triggered Bitcoin's recent surge and the potential impact of regulation on the cryptocurrency market.

Labore explains several factors contributing to Bitcoin's record gains. He reminded that the Bitcoin Spot ETF was approved in January and other ETF approvals are expected in the near future.

Additionally, Labore pointed to expected interest rate cuts by central banks and upcoming regulatory regulations as factors driving Bitcoin's rise.

The economist cited recent events such as the decision by the UK Financial Conduct Authority (FCA) to allow securities backed by Bitcoin and Ethereum, as also supporting the rally price.

Labore also outlined future regulations, including MiCA regulation in the EU and US, and increased scrutiny from regulators such as the CFTC and SEC.

When asked about the potential impact of the upcoming Bitcoin halving, Labore reminded that history shows prices increase before and after the halving event.

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