$BTC Bitcoin's price surges are primarily driven by supply and demand. Its fixed supply of 21 million coins creates scarcity. Halving events, reducing new Bitcoin creation, further constrain supply.

Increased institutional adoption, particularly through Bitcoin ETFs, has brought significant capital inflows, boosting demand. Positive market sentiment, influenced by favorable news, regulatory clarity, and macroeconomic factors (like inflation concerns), also fuels investor confidence.

Speculation, technological advancements, and perceived value as a "digital gold" further contribute to its upward price movements.