Bitcoin Surges Past $61K on Institutional Demand and Looming Supply Squeeze
• Bitcoin breaks $61,000, reaching its highest price since November 2021 peak of $69,000 • Recent rally driven by influx of institutional money after SEC approval of several Bitcoin ETFs in January • Major asset managers like BlackRock bringing crypto to mainstream with new Bitcoin offerings • Supply/demand imbalance as new ETFs pull in daily inflows but Bitcoin supply faces impending "halving" event • Part of broader crypto market rally with Ethereum back above $3,300 after 2022 crash put it near $1,000