It was almost obvious that BTC would set a new ath before the BTC halving and it did. A lot of coins is being accumulated through BTC spot etf's and this is the main thing driving the price of BTC for a few months now, and since BTC has set a new ath before the halving, it is expected to pump very high after the halving. Fomo buyers are going to be rushing in now, people who never buy BTC when it is low, and they never learn either.
I don't think it was that obvious at all. I think the demand for spot ETFs exceeded everyone's expectations. Many seasoned traders expected a big dump after the announcement of approval and thought the price would behave similarly to the past cycles, but that wasn't the case.
Now there are rumours about the new wave of spot ETFs getting approved in Hong Kong within a month, which could further bump up the price.
I agree, we never thought that it will go to set a new all time high, and this is the first time that it happened to Bitcoin's young history. Not only that they were even saying that the Bitcoin Spot ETF was already price in. However, it was not the case as the bulls uses this approval to trigger the imagination of the market thus, pushing to $73,000.
And now the price is back at $70k, some 48 hours ago it dip to $68,000. So now we have only 9 days before the halvening. And for sure there could be efforts on the side of the bulls to push it as much as they can before that activity.