Bitcoin's price reached a new all-time high of over $73,000 on March 13, following steady growth since October 2023.

A large Bitcoin address realized $217 million in profits amid the price surge, indicating significant capital gains for some investors.

The price increase is attributed to factors such as interest rate expectations, the approval of spot Bitcoin ETFs, and anticipation of the upcoming Bitcoin halving event in April, which may lead to a supply shock.

Analysts project Bitcoin's price could exceed $100,000, with some predictions reaching as high as $1 million in the future.

Institutional demand for Bitcoin continues to rise, with initiatives like Bitcoin Minetrix aiming to make Bitcoin mining more accessible.

JMP Securities has raised the price target for Coinbase stock from $200 to $300, anticipating strong inflows into spot Bitcoin ETFs and maintaining a Market Outperform rating for the stock.

The inflow of an estimated $220 billion into spot Bitcoin ETFs over the next three years could potentially push Bitcoin's valuation up to $280,000.