After a slow start to April, Bitcoin rose above $69,000 on Thursday ahead of the network's expected halving event in two weeks.
Bitcoin has risen 5% in the last 24 hours to $69,139, reversing a three-day trend that saw the leading cryptocurrency (by market cap) sink below $70,000 and nearly reach $65,000 on Tuesday before recovering on Thursday.
The quadrennial Bitcoin halving reduces miners' BTC rewards for creating a new block. It slows circulating supply and curbs inflation and is usually connected to asset price increases.
Bitcoin rose to a new all-time high of $73,737 in March ahead of the next halving on April 20. In November 2021, Bitcoin reached $69,000, its previous high.
Since Bitcoin activity and demand impact how quickly the network reaches a given network block, the halving date has fluctuated in recent weeks.
It's expected on April 20 or 4/20, a meme number that matches the present pricing, which has another meme number.
According to CoinGecko, the market is up 4% on the day after Bitcoin's latest gain. Ethereum (ETH) is up nearly 4% to $3,415,
Dogecoin (DOGE) is up 6% to $0.186, and Binance Coin (BNB) is the largest gainer in the top 10 at 8% to $597.