Foreign media: Bitcoin bulls believe BTC will break the historical high of $69,000 in March

ChainCatcher news reports that some traders indicate that optimism, institutional buying demand, and historical returns associated with the Bitcoin halving event are driving the asset to break through the historical high of $69,000 in March.

The next halving is expected in mid-April, and as long as demand remains stable or increases, the number of new Bitcoins in the open market will decrease, which often leads to price increases. While historical price trends may not repeat in the future, expectations for a rebound could prompt investors to place significant bets on the asset.

Hectic Labs CEO Bryan Legend stated, "This expectation always leads to increased buying activity, as investors anticipate that reduced supply will drive up prices, and the pre-halving rebound will contribute to a new bull market, bringing about new bullish sentiment."

Additionally, Bitget Research indicates that with 54 days until the Bitcoin halving, combined with expectations of the Federal Reserve cutting interest rates mid-year, there is support for Bitcoin prices at $50,000, and March may see fluctuations reaching new historical highs.