Bitcoin daily chart
Bitcoin daily

Bitcoin has broken the spike high on ETF launch day and is now gunning for $50,000.

It's rallied for seven straight days and is up another 4.5% today, or $2100. The sell-the-fact trade on the ETF launch led to a 20% drop but it's quickly made up the decline as excitement builds towards the halvening, which should be in late April.

The law of big round numbers is always in effect in bitcoin so lots of eyes will be on $50,000. It hasn't traded above since December 2021.