Bitcoin s halving event occurred, reducing new coin creation rate and emphasizing scarcity. Price stabilized post-halving. Analysts skeptical about significant price increases. SEC approval of bitcoin products noted as a positive factor.
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In a remarkable resurgence, Bitcoin, the world s leading cryptocurrency, has surged 22% year-to-date, surpassing the $1 trillion market capitalisation threshold for the first time since late 2021 s peak. Its resurgence has electrified the broader cryptocurrency market, including ether and other digital coins, which has now exceeded $2 trillion, as per data from CoinGecko. The sector has been bolstered by the U.S. regulatory approval of several spot bitcoin exchange-traded funds (ETFs), from BlackRock and Fidelity among others, which allow access to the crypto coin vis regular stock exchanges.