It is known as the fear created by fiat money and inflation. Politicians in large part of the world last year promised financial support to their citizens in millions of dollars, euros and other fiat currencies. The fact that these are being transferred to citizens now creates a serious inflation pressure. This causes people to turn to inflation-resistant, limited supply assets. Bitcoin's response to recession seems to have been on the rise.
It seems to be that people have survived the panic. The panic that started on March 12 has gradually disappeared, and it seems that people are starting to buy Bitcoin from the bottom. It was also revealed in the data transmitted by Coinbase that people began to make a severe BTC purchase after the fall.
Bitcoin Halving is much less time left, and the effect of the half is seen to be quite large. While people are fleeing to BTC with the pressure created by inflation increase the demand, half the supply can bring an incredible price increase.