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Bitcoin has surged to its highest level since November.
As more capital enters the cryptocurrency field through exchange-traded funds investing directly in it, investors are waiting for the impending halving event, which has historically been bullish for bitcoin prices.
Over the last 24 hours, bitcoin increased by around 10%, reaching almost $57 000 at one point, according to CoinDesk data.
Since the United States Securities and Exchange Commission first approved 10 bitcoin ETFs in January, investors have seen substantial inflows into the cryptocurrency.
