Bitcoin price rise: a look at possible causes

Bitcoin’s (BTC) impressive 7.6% price increase between April 6 and April 8, reaching an intraday peak of $72,747, has sparked widespread speculation about the underlying causes.

While some may point to inflows from spot Bitcoin exchange-traded funds (ETFs) as the main factor, it’s also very likely that a range of macroeconomic factors or halving anticipation played a major role. Crypto intelligence firm Santiment suggested that increased trader activity has persisted and it remains to be seen whether it will stick after the halving event expected to take place on April 19.