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Technology

Bitcoin eyes $60,000 in biggest monthly rally since late 2020

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By Reuters

LONDON: Bitcoin surged for a fifth day on Wednesday to near $60,000, buoyed by flows into new US 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.

Bitcoin breaks $57,000 as big buyers circle

Traders have poured into bitcoin ahead of April’s halving event - a process designed to slow the release of bitcoin.

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