Bitcoin's value reached a new high of $72,000 in March 2024, spurred by U.S. SEC's approval of 11 spot Bitcoin ETFs in January and anticipation of the 4th Bitcoin Halving event.

Analysts predict significant gains for Bitcoin, projecting a rise to $77,000 by early April, $99,000 by May, and potentially $146,000 by December 2024.

Demand for Bitcoin is outpacing new supply due to factors such as global liquidity measures and macroeconomic developments like expected softer monetary policy and lower interest rates.

Despite a 2% price dip, the positive Coinbase Premium Index indicates strong renewed interest in Bitcoin from US retail and institutional investors.

The SEC's approval has spurred crypto asset management firms like Hashdex to convert Bitcoin Futures ETFs to spot Bitcoin ETFs, and Fidelity has proposed an Ethereum ETF with staking.