Bitcoin bulls believe BTC will break through an all-time high of $69,000 in March

Some traders say that optimism, institutional buying demand, and historical returns related to the Bitcoin halving event are driving the asset to break the historical high of $69,000 in March. The next halving is expected in mid-April, and as long as demand remains unchanged or increases, the amount of new Bitcoin on the open market will decrease, and prices tend to rise. Historical price trends may not be repeated in the future, but expectations of a rebound may prompt investors to make huge bets on the asset. Bryan Legend, CEO of Hectic Labs, said: "This expectation always leads to increased buying activity, as investors expect a decrease in supply to push up prices, and the rebound before the halving will help a new bull market, bringing new bullish sentiment." In addition, Bitget Research stated that with 54 days left until the Bitcoin halving and the expectation of a mid-year rate cut by the Fed, the Bitcoin price has support at $50,000 and may fluctuate to create a new historical high in March.