Bitcoin is showing significant growth, which is attracting the attention of investors and analysts. The main drivers of the current rally are increased institutional investment, the approval of new exchange-traded funds (ETFs) and market activity associated with the reduction in mining rewards after the halving [[â]](https://www.coindesk.com/price/bitcoin/) [[â]](https://www.independent.co.uk/tech/bitcoin-price-rally-2024-explained-b2504003.html). These events help strengthen confidence in Bitcoin and increase demand for it. Moreover, the reduction in new supply of Bitcoins into circulation reduces selling pressure, which also maintains price stability [[â]](https://cryptonews.com/cryptocurrency/why-is-bitcoin-going-up/). As a result, Bitcoin is again attracting the attention of both institutional and retail investors, raising the price to new levels [[â]](https://www.coinbase.com/price/bitcoin).