Today, the main cryptocurrency has reached a new high at $61,477 according to the Binance exchange, marking an increase of 296% compared to the 2022 bear market low of $13,600. The bullish momentum continues to move.

Michael van de Poppe, head and founder of MN Trading, shared his thoughts on this event: "The maximum growth of bitcoin. A new historical maximum is reached before halving — only 10% remains. Expect hard and fast corrections. After the end of the bitcoin rally, altcoins will grow 2-4 times. This is a repeat of the 2017 cycle."

The trader recalls the phenomenal altcoin season in 2017 and draws attention to the upcoming halving, scheduled for mid-April. He notes that the market has not yet taken this event into account, although historical data indicate the impact of previous halvings on the bitcoin exchange rate.

Bitcoin's bullish momentum began just two days after spot bitcoin ETFs posted record daily trading volume of $2.4 billion, according to Bloomberg ETF analyst Eric Balchunas, exceeding previous figures.

Balchunas also notes that on February 28, the iShares Bitcoin Trust (IBIT) ETF of BlackRock registered more than 100,000 transactions, while previously this number did not exceed 30,000-60,000.

On February 14, the analytical company CryptoQuant published a report according to which 75% of new investments in bitcoin originate from spot bitcoin ETFs.