Bitcoin marked a historic milestone after its price surpassed $69,200 today (Tuesday), according to Coinbase's data. This surge followed a broader trend of heightened interest and investment in Bitcoin, driven notably by the introduction of Bitcoin exchange-traded funds (ETFs) in the United States.

Bitcoin's ascent to new heights is mostly due to the influx of investment from the latest wave of spot Bitcoin exchange-traded funds (ETFs) in the United States, Cointelegraph reported. These ETFs have emerged as a pivotal driver of the cryptocurrency's price appreciation.

The Impact of the ETFs

Despite its unprecedented surge to new all-time highs, Bitcoin remains susceptible to significant volatility, particularly in light of the upcoming halving event. According to CoinMarketCap, the price of Bitcoin has jumped 18% in the past week and 1% in the past 24 hours, to trade at $67,242 at the time of this publication.

The impending halving, a key feature of Bitcoin's protocol that reduces block rewards by half approximately every four years, poses a challenge and uncertainties for investors navigating the cryptocurrency landscape.