#BTCBreaksATH Supply and Demand: Bitcoin has a capped supply of 21 million coins, making it a scarce asset. As demand increases, the limited supply can drive up the price. Events like the halving, which reduces the rate at which new Bitcoins are created, can also create upward price pressure.

Market Sentiment and Speculation: Investor sentiment plays a crucial role. Positive news, such as regulatory acceptance (like the approval of spot-Bitcoin ETFs), technological advancements, or endorsements from influential figures, can boost confidence and drive prices up. Conversely, negative news can lead to panic selling. Speculative trading also amplifies price swings.