Bitcoin Hits Record High of $72,000 as Crypto Markets Enter Euphoric Phase

Bitcoin reached a new all-time high of $73,500, marking the first time it has done so before a halving event. The halving, which occurs roughly every four years, cuts the rate of Bitcoin's supply growth in half. Factors such as dwindling supply, increased demand from spot Bitcoin exchange-traded funds, and the entry of Wall Street institutions into the market have contributed to the current surge. Historically, post-halving years have seen significant price increases, and with supply at historical lows, the potential for further price escalation remains high.