"TimeoutError: Knex: Timeout acquiring a connection. The pool is probably full." When Inserting 5000+ Rows With Knex.js

I'm trying to insert a lot of entries in my Postgres database (60,000 rows), and how I've set it up is that I load up all the rows into a long array, and then use knex.batchInsert to insert them. However, this error gets thrown:
TimeoutError: Knex: Timeout acquiring a connection. The pool is probably full. Are you missing a .transacting(trx) call?

According to the knex documentation, batchInsert is already wrapped in a transaction, so it shouldn't be a problem, if I'm not mistaken. I also tried to write it as a forEach loop with transactions inserting the rows, but that also didn't work (but it could be my fault; I haven't used transactions before). Only 5,000 rows get entered before the app throws the error.

Here's the code I used with batchInsert:

    await knex.batchInsert('timelines', rows, 1000)
        .then(console.log('success'))
        .catch(function(error) {
            console.log(error);
        });

And here's the code I used with transactions in a forEach loop:

    await rows.forEach(async function (row) {
        try {
             knex.transaction(function(trx) {
                 knex('timelines').transacting(trx).insert(row)
                     .then(trx.commit)
                     .catch(trx.rollback);
                 })
                 .then(function(resp) {
                     console.log(resp);
                     console.log('Transaction complete.');
                 })
                 .catch(function(err) {
                     console.error(err);
                 });
        }
        catch (e) {
            console.error(e);
        }

So when I run the code, I only get to 5,000 entries before the error arises. Is there a way I can get around this so I can enter all 60,000?