Bitcoin eyes $60,000 in biggest monthly rally since late 2020 By Reuters
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© Reuters. FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
LONDON (Reuters) – surged for a fifth day on Wednesday to near $60,000, buoyed by flows into new U.S. spot bitcoin exchange traded products that have driven it up 39.7% in February, which would mark its largest monthly rally since December 2020.
Bitcoin was last up 4.4% at $59,259, its highest since December 2021, while ether rose 2.2% to $3,320, having hit another two-year high.
Traders have poured into bitcoin ahead of April’s halving event – a process designed to slow the release of bitcoin.
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© Reuters. FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
LONDON (Reuters) – surged for a fifth day on Wednesday to near $60,000, buoyed by flows into new U.S. spot bitcoin exchange traded products that have driven it up 39.7% in February, which would mark its largest monthly rally since December 2020.
Bitcoin was last up 4.4% at $59,259, its highest since December 2021, while ether rose 2.2% to $3,320, having hit another two-year high.
Traders have poured into bitcoin ahead of April’s halving event – a process designed to slow the release of bitcoin.
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