Key Reasons Why Bitcoin (BTC) Just Reached New All-Time High.

Bitcoin (BTC) has just reached a new all- time high, trading above $69,200 and surpassing the previous record set in November 2021 of $69,146.

The cryptocurrency is currently valued at more than $1.3 trillion, according to CoinGecko data.

Why Bitcoin might surge even higher.

Anthony Pompliano, founder of Pamp

Investments, singed out several key factors

contributing to Bitcoin's bullish momentum

during a CNBC interview.

Firstly, the recent approval of Bitcoin ETFs, notably the one managed by BlackRock with $11 billion in assets, which added $1 billion in just the last day, signifies a growing mainstream acceptance and massive inflows into the cryptocurrency market.

Furthermore, historical patterns suggest that breaking past an all-time high could lead to a rapid doubling in price, as seen in previous cycles.

Pompliano also singled out the upcoming Bitcoin halving event, which will reduce the new supply of Bitcoin, as a critical factor likely to push prices higher at a pace faster than many anticipate.