Mustafa Rehman
Member
Bitcoin extended its rally for the fifth consecutive day, reaching nearly $60,000, driven by increased flows into new US spot bitcoin exchange-traded products.
The cryptocurrency has surged almost 40% in February, marking its largest monthly rally since December 2020. Bitcoin's value has surpassed $2 trillion this month, and its price has doubled in the past four months.
The anticipation of the April halving event and expectations of the Federal Reserve implementing rate cuts this year have contributed to the positive sentiment among investors.
The three most popular bitcoin exchange-traded funds (ETFs) by Grayscale, Fidelity, and BlackRock have witnessed increased trading volumes. Additionally, the world's second-largest cryptocurrency, ether, rose 2.2% to $3,320, registering a 47% gain in February, the largest monthly increase since July 2022.
The cryptocurrency has surged almost 40% in February, marking its largest monthly rally since December 2020. Bitcoin's value has surpassed $2 trillion this month, and its price has doubled in the past four months.
The anticipation of the April halving event and expectations of the Federal Reserve implementing rate cuts this year have contributed to the positive sentiment among investors.
The three most popular bitcoin exchange-traded funds (ETFs) by Grayscale, Fidelity, and BlackRock have witnessed increased trading volumes. Additionally, the world's second-largest cryptocurrency, ether, rose 2.2% to $3,320, registering a 47% gain in February, the largest monthly increase since July 2022.