BTC Price Index and Live Chart – CoinDesk”>(BTC) topped $63,000 on Wednesday, the original cryptocurrency’s first time above that level since the peak of the last bull market in November 2021.

The massive rally this week coincides with huge inflows to U.S. traded spot ETFs. On Tuesday, the funds added more than 12,000 bitcoin after adding around 10,000 on Monday. It comes before the Bitcoin Halving, which takes place in April. This event occurs every four years.

This week, Bitcoin’s rally has accelerated. It has been on an avalanche of a rise for several months. Its price was under $51,000 just a few short days ago. Just a few hours later, it crossed the $60,000 mark before surpassing $63,000.

As of press time, Bitcoin was up over 10% in the last 24 hours. The CoinDesk Index (a benchmark for the largest cryptocurrencies) had rallied 7.8% in the same period.

According to Coingecko, Bitcoin bulls have now set their sights at the cryptocurrency’s highest ever price of $69 045, which was reached on November 10, 2021.

Read more: Fear and Greed Index Reading is Now at 87 – a Sign of “Extreme Greed”

Nick Baker is the editor.