Bitcoin (BTC) is at the forefront of the cryptocurrency market’s recovery, with a 5.7% increase in daily charts, a 27.1% rise in weekly charts, and over 13% growth in the past month. Furthermore, the initial cryptocurrency has increased in value by 191.4% since March 2023 according to information from CoinGecko. The US government has agreed to delete the data collected on Bitcoin mining. BTC is currently trading at a decrease of just 5.8% from its peak of $69,044 reached in November 2021, more than two years ago. According to a post on Reddit, as BTC’s halving cycle nears in April, the cryptocurrency could potentially surpass its peak from 2021. The recent increase in Bitcoin’s value is likely a result of more money flowing into spot BTC ETF products. In a groundbreaking event, the US Securities and Exchange Commission gave the green light to 11 spot Bitcoin ETFs in January. BlackRock’s iShares Bitcoin Trust (IBIT) has quickly reached over $10 billion in assets in just seven weeks. The US gold-backed ETFs took more than two years to accomplish the same achievement.