Bitcoin Price Approaches $50,000 Milestone Amid Longest Winning Streak and On-Chain Analysis

Bitcoin is approaching the $50,000 milestone as its price surges, reaching its highest point in 26 months at $48,500. Over 90% of Bitcoin addresses are now profitable, signaling a strong incentive for holders to continue holding. The recent bullish action is attributed to the debut of spot Bitcoin ETFs in the US and the approaching halving for Bitcoin miners. With spot Bitcoin ETFs now managing over $10 billion worth of BTC and the historical trend of bull runs leading up to halving events, there is potential for Bitcoin to reach $60,000 before the next halving in April and $100,000 by the end of the year.