Bitcoin continued its upward surge for the fifth consecutive day on Wednesday, approaching the $60,000 mark. The rally was fueled by increased investment in new U.S. spot bitcoin exchange-traded products, resulting in a 39.7% surge in February. If sustained, this would mark Bitcoin’s largest monthly rally since December 2020.
As of the latest update, Bitcoin was up by 4.4% at $59,259, reaching its highest point since December 2021. Meanwhile, Ether also experienced gains, rising by 2.2% to $3,320, reaching another two-year high.
Investors have been flocking to Bitcoin in anticipation of April’s halving event, a process aimed at slowing down the release of new bitcoins into circulation.
