๐Ÿš€ Bitcoin prices are soaring towards all-time highs (ATH) once again, even before the anticipated halving event in April! ๐Ÿ“ˆ This rally is the most powerful since the 2021 bull market, with weekly, monthly, and quarterly performances hitting +20%, +44%, and +55% respectively.

The SEC's approval of Spot ETFs for US markets has led to strong demand, with Bitcoin trading at $68.0k, 58% higher than $42.8k at the time of ETF approvals. ๐ŸŽ‰ The market has seen a net capital inflow into Bitcoin of around $267M/day, driving the rebound towards new ATHs.

Coinbase has experienced a significant increase in average transaction size, peaking at 4.3 BTC/Tx at the time of the ETF approval, indicating the scale of new institutional capital entering Bitcoin. ๐Ÿฆ

Long-term holders are sitting on an unrealized profit of ~228% with the current price at $68k. As the market approaches ATHs, their distribution pressure is increasing, a trend seen in all prior cycles. However, the new US Spot ETFs have introduced a significant new source of demand, offsetting the distribution pressure from existing holders and explaining Bitcoin's meteoric rise back to all-time highs. ๐ŸŒŸ