Bitcoin price rallies to $50,000, certifying BTC bulls’ intent to chase the price higher leading into the April halving event.
Bitcoin price rose to an intra-day high of $50,000 on Feb. 12 for the first time since December 2021, following a streak of positive exchange-traded fund (ETF) inflows last week.
Bitcoin (BTC) rapidly rallied 3.25% from an intraday low of $47,745 on Feb. 12 to hit a two-year high at $50,000. The rally to a new two-year high was prefaced by a 16% gain over the past seven days.
Bitcoin’s strong performance comes as the inflows into spot Bitcoin ETFs have increased over the past week. Last week, spot Bitcoin ETFs attracted over $1.1 billion in inflows as outflows from the Grayscale Bitcoin Trust continued to slow down.
