Bitcoin Hits $64,000, Posts Highest Monthly Jump of 44% In Over 3 Year
9 months, 3 weeks ago

Bitcoin Hits $64,000, Posts Highest Monthly Jump of 44% In Over 3 Year

News 18  

Continuing its winning streak on Thursday, Bitcoin in February 2024 posted its biggest monthly gain in more than three years and it is within range of a record high as cash rushing to listed bitcoin funds propels a sweeping rally. The largest cryptocurrency by market capitalisation touched as high as $63,933 overnight with a monthly gain of more than 44 per cent, which is the largest since December 2020. CoinSwitch Markets Desk in its statement said, “In the last 24 hours, unprecedented volumes were seen in Bitcoin spot ETFs with a total of $7.5 billion being traded, doubling the previous record as BTC hit an all-time high in the Indian markets. Bitcoin is now up by more than 44 per cent in February, which is the highest monthly move since December 2020.” It said the Indian investors who had previously invested in Bitcoin are now in a profitable position with the market sentiment slowly moving towards the ‘extreme greed’ category. The momentum suggested “a test and likely break” of $69,000, said Tony Sycamore, an analyst at brokerage IG Markets, which would put bitcoin beyond its record high set in the heady days of crypto peaks in November 2021.

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