Bitcoin is approaching $70,000, marking its highest level in six weeks. This surge comes 100 days after Bitcoin's latest halving event, which historically precedes significant price rallies. Notably, figures such as Donald Trump have pledged support for Bitcoin at a recent conference. Additionally, Senator Cynthia Lummis plans to introduce legislation for the U.S. to purchase Bitcoin. These endorsements have provided additional momentum to Bitcoin's upward price movement.
Trump's support and Lummis's legislative intentions signal growing acceptance of Bitcoin among key political figures, which may further strengthen market confidence.
The 100-day mark since the halving event often acts as a catalyst for substantial Bitcoin rallies, according to historical trends. As a result, market participants are optimistic about Bitcoin's future price performance.
