The recent surge of Bitcoin's price above $70,000 has been driven by several key factors. First, growing institutional adoption, fueled by the approval of spot Bitcoin ETFs in 2024, has attracted significant capital inflows, boosting demand. Second, macroeconomic conditions, such as the Federal Reserve's signals of potential rate cuts and ongoing money printing, have weakened fiat currencies, positioning Bitcoin as a hedge against inflation. Third, the anticipation of a pro-crypto U.S. administration following the 2024 election, with promises of favorable regulations and a strategic Bitcoin reserve, has heightened investor optimism. Finally, the post-halving effect from April 2024, reducing Bitcoin’s supply growth, historically triggers price rallies. These combined forces— institutional interest, economic shifts, political support, and supply dynamics— have propelled Bitcoin past this milestone in early 2025.