Bitcoin experienced a significant rally, surpassing the $70,000 mark and reaching as high as $71,000 with an 11.63% rise. This surge comes after a period of volatility, with Bitcoin briefly falling below $70,000 before rebounding. The cryptocurrency's rise is attributed to a combination of factors, including strong market sentiment, inflows from US exchange-traded funds (ETFs), and a notable purchase by South American gold and precious metals producer Nilam Resources. Nilam Resources announced plans to acquire 24,800 Bitcoin, approximately valued at $1.7 billion, marking a significant investment in the cryptocurrency by a major company in the traditional mining sector. This move by Nilam Resources, along with the general market optimism and the upcoming Bitcoin halving event, which is just 25 days away, has contributed to the positive momentum in Bitcoin's price.