Bitcoin Surges Past $70,000 Despite ETF Fluctuations

Bitcoin's price has surged to over $71,000 ahead of its much-anticipated block rewards halving, currently trading at $70,955.86, up 5.9% on the day and 10.9% on the week. The halving, set to take place in April, will see the block reward for miners cut in half, historically leading to price surges. However, some argue that external macro factors, such as loose monetary policy and fiscal stimulus, may have a greater impact on Bitcoin's price movements. The arrival of U.S. spot Bitcoin ETFs and potential supply crunch are also contributing to the price surge.