The impactation source that this great height in Bitcoin has ascertained is usually derived from the forces of the demands and supplies.
The Bitcoin market price was able to surge this great height due to the fact that Investors is being overwhelmed recalling the past bull-run was surged at $69K in 2021 which presented a massive impression and now there are rumors speculating around pertaining how this current bull-run was going to break its history of meeting a new ATH. Most impressively, the current halving was a potential to beat the value of the last ATH which has got Bitcoin enthusiasts to keep holding their assets while some investors are accumulating more of Bitcoin against the bull-run season.
And fortunately, today 10-03-2024 the Bitcoin halving was able to reach the past ATH of 2021. Meanwhile... We hope more increments to come in the market and yet while enthusiasts awaits for the full dawn of the bull-run to reach its peak of ATH.
Hence the market is being attracted and influential, it is an unjust to say "Tether releasing of a billion dollar USDT was the driving energy of the impressive surge in the crypto markets today where the power of the demands and supplies does.

                                 
You can see for yourself about the current market price from the coin market cap

                                 
And these are factors determining the derivation power of Bitcoin price