Bitcoin reached a new all-time high of $69,320 on Mar. 5, but then fell to $59,300.

The cryptocurrency market saw a rebound with Bitcoin climbing 6% to $66,315.19 and Ether rising over 11% to $3,785.76.

The BlackRock iShares Bitcoin Trust ETF experienced record inflows of $788 million, indicating growing investor confidence.

A surge in trading was driven by the launch of 11 spot Bitcoin ETFs, collecting $7.5 billion in investments.

Speculations about the sustainability of Bitcoin's price increase surround the upcoming Bitcoin halving event and actions by early BTC miners.