Investing Bitcoin reacted positively to the latest ETF approval headlines in Europe, with immediate inflows triggering a 1.8% spike in prices. Technical charts show a cup-and-handle pattern forming on daily candles, potentially signaling a run toward $72,000 in the mid-term if confirmed by upcoming volume breakouts. Moreover, if you want to embrace the "Bitcoin seasonality effect" as an important catalyst for future price appreciation, then you probably also need to accept the historical data surrounding the Bitcoin halving. After each halving event, Bitcoin typically goes on an epic rally for a period of 12 to 18 months, before ultimately crashing in value. The subsequent Tax Relief Act of 2020 paid out an additional $600 per eligible adult and up to $600 more for those with qualifying children in December 2020. The American Rescue Act of 2021 provided an additional $1,400 payment to eligible adults and up to $1,400 for those with qualifying children. BTC price action within the Investing Bitcoin sector has correlated tightly with Nasdaq movements this week, as risk appetite returns to tech-heavy assets. The 50-day moving average is trending upward, creating technical room for BTC to challenge $69,000 if momentum holds. Trading volumes are up 14% week-over-week according to major exchanges.
