From Nasdaq:

In early 2021, Bitcoin reached over $50,000 per coin for the first time, bouncing back after a 75% drop from its all-time high. The cryptocurrency’s price rose 130% over the past year and over 20% in the past month. The first 11 Bitcoin spot ETFs recently began trading and have already seen over $1 billion in weekly inflows. Institutional and well-funded company adoption, along with upcoming supply reduction through the Bitcoin halving event, contribute to high demand for Bitcoin.

However, with around 90% of Bitcoin addresses having paper profits, there’s a possibility of increased selling pressure from investors. Despite this, many investors may hold onto their Bitcoin in anticipation of higher profits later. Ultimately, while there’s a high potential for Bitcoin to surge past $60,000 before the summer, it’s important to recognize the risks and potential volatility of investing in Bitcoin.

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Read more: Bitcoin Surges Past $50,000: Will It Pass $60,000 Before the Summer?