From NASDAQ:

Bitcoin surged to $60,000, its highest in over two years, with a 42% rally in February, the largest monthly gain since December 2020. Traders are investing ahead of the halving event in April and anticipating Fed rate cuts. The value of all bitcoin in circulation has surpassed $2 trillion, doubling in four months.

Growing interest in bitcoin ETFs by major players like Grayscale and BlackRock has led to surging trading volumes. The ETF effect has accelerated, with massive inflows and sustained interest from investors. Flows into the top 10 spot bitcoin ETFs reached $420 million in a single day, the highest in two weeks.

The market witnessed a significant increase in trading volumes of the top three bitcoin ETFs by Grayscale, Fidelity, and BlackRock. These ETFs traded 110 million shares, accounting for 51% of the volume in top companies like Apple and Microsoft. Flows into these ETFs spiked last week, indicating a growing appetite for crypto assets.

MicroStrategy and Reddit disclosed purchases of bitcoin, while ether, the second-largest cryptocurrency, surged to $3,353. Investors hope for US regulators to approve ETFs based on spot ether. Enigma Securities notes a steady climb in ether’s price, with some signs of FOMO among investors. The crypto market remains optimistic about continued growth and adoption.



Read more at NASDAQ: Bitcoin hits $60,000 as ‘FOMO’ rally gathers pace