The recent Bitcoin price surge above key resistance levels is driven by multiple factors. Institutional entry, such as the growing interest from traditional financial institutions like BlackRock and Fidelity, brings significant capital inflows. Macroeconomic changes, like the slowdown in the Fed's rate - hiking cycle and global inflation concerns, make Bitcoin an attractive hedge. Additionally, the approaching Bitcoin halving, which historically led to price increases in the following 12 - 18 months, is also fueling the bullish sentiment.