Bitcoin's Bullish Surge: Challenging $60K Before Halving

Bitcoin's upcoming halving on April 19th could lead to a potential rally, as historical data and technical analysis indicate a possible surge of over 30% in the eight weeks leading up to the event. The relative strength index (RSI) has crossed above 80, suggesting strong upward momentum, with previous occurrences of this signal resulting in an average gain of 54% in the following 60 days. Additionally, strong inflows into U.S.-based spot exchange-traded funds (ETFs) indicate a bullish sentiment among traditional investors. However, while past performance is not indicative of future results, the current macroeconomic environment appears supportive of increased risk-taking, potentially contributing to Bitcoin's upward trend.