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Bitcoin rockets above $60,000

Published 28/02/2024, 13:39
Updated 28/02/2024, 14:10
© Reuters Bitcoin rockets above $60,000

Proactive Investors - Bitcoin (BTC) has surged above $60,000 amid the strongest three-day rally in recent memory.

The world’s largest cryptocurrency has added over 15% against the US dollar week on week, bringing the BTC/USD to $60,500 (£47,838) at the time of writing.

It marks the first time bitcoin has surpassed $60,000 since the unprecedented bull run in November 2021.

Bitcoin bulls are now eyeing up $69,000, which is where the cryptocurrency’s all-time high is currently set.

Sustained inflows into spot-bitcoin exchange-traded funds are keeping optimism in the spot markets alive, with Bloomberg data showing a record day of inflows yesterday for BlackRock’s iShares Bitcoin ETF (IBIT).

Per Bloomberg data, IBIT saw $520 million in cash inflows yesterday alone, bringing total assets under management to $8 billion, making IBIT among the top 5% of all ETFs by size.

Read more on Proactive Investors UK

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