Bitcoin rallies to $50,000, the highest in over two years, marking a significant recovery.

The surge is attributed to the U.S. approval of spot bitcoin ETFs, resulting in $8 billion inflows.

The cryptocurrency's rebound mirrors a broader market trend of risk-taking, influenced by Federal Reserve policy expectations.

Bitcoin's recovery compensates for the losses from the TerraUSD stablecoin collapse in May 2022.

Market optimism is high as Bitcoin approaches its next halving in April, with predictions of it hitting $100,000 by year-end.

Despite bullish forecasts, SEC Chairman Gary Gensler expresses skepticism, and economist Peter Schiff cautions against a possible 'pump-and-dump' scenario.