The recent rise of Bitcoin can be explained by several factors.

1. **The rise of Bitcoin ETFs**: The growing interest in Bitcoin exchange-traded funds (ETFs), particularly those from BlackRock and Fidelity, has attracted massive investments, facilitating access for institutional investors.

2. **Whale activity**: Large investors have withdrawn significant amounts of BTC from exchange platforms, thereby reducing the available supply and pushing prices up.

3. **The scarcity effect of Bitcoin**: The scheduled reduction of mining rewards (halving) decreases the supply of new BTC, reinforcing demand and supporting price increases.

4. **Improvement in the regulatory framework**: Advances in cryptocurrency regulation have strengthened investor confidence and promoted institutional adoption.

5. **A favorable macroeconomic context**: The easing of financial conditions and growing interest in digital assets have contributed to the rise of $BTC