Reserve Dollar

Bitcoin

Reserve

Rise

BlackRock

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Bitcoin’s (<a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="noopener noreferrer nofollow" class="deco-link">BTC</a>) value skyrocketed to $60,354.58 on Wednesday, reflecting a substantial single-day gain of $3,216.28 (5.63%). This latest surge solidly positions the pioneering cryptocurrency above the psychological $60,000 threshold, bringing it within striking distance of its all-time high.</p>
<p>The previous day’s close was reported at $57,071.10, indicating a <a href="https://tokenist.com/bitcoin-btc-hits-56k-as-halving-hype-and-microstrategy-fuel-market-optimism/" rel="noopener noreferrer nofollow" class="deco-link">remarkable uptick</a> in valuation over a remarkably short period. Bitcoin’s daily trading range spanned from $56,779.22 to $60,438.46, demonstrating continued volatility and intense interest in the booming cryptocurrency marketplace</p>
<h3 id="bitcoin-price-hits-level-not-seen-since-november-2021">Bitcoin Price Hits Level Not Seen Since November 2021</h3>
<p>Experts highlight Bitcoin’s meteoric price appreciation through February, which saw its value balloon by over 40% for the month – the most robust monthly performance in over two years. This parabolic rally, coupled with Bitcoin’s staggering $1.12 trillion <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" aria-label="market capitalization (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">market capitalization</a> and liquidity supplied by its near-19 million circulating supply, underscores a resurgence in broader market confidence.</p>
<p>Hitting $60,131 marked Bitcoin’s highest valuation since briefly approaching $70,000 in November 2021. There has also been an almost 19 percent week-over-week upswing since February 21, as fresh capital inflows into recently launched U.S. spot <a href="https://tokenist.com/bitcoin-spot-etfs-could-see-40-4b-in-inflows-over-first-two-years-report/" rel="noopener noreferrer nofollow" class="deco-link">bitcoin exchange-traded funds</a> (ETFs) and building hype ahead of April’s halving event fueled the sharp uptrend.</p>
<p>Expectations for impending Federal Reserve interest rate cuts have further stoked institutional and retail investor interest.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="trading-volume-skyrockets-for-bitcoin-etfs">Trading volume skyrockets for Bitcoin ETFs</h3>
<p>Trading volumes for top Bitcoin ETFs have skyrocketed accordingly, with the ten biggest spot Bitcoin ETFs registering a record $420 million in inflows on Tuesday alone, marking the highest levels in nearly two weeks. <br><br>Around 70 percent of Bitcoin’s supply has remained static for over a year, while institutional buyers like BlackRock and Fidelity have actively snapped up the balance.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think 2024 could be a <a href="https://tokenist.com/can-2024-be-a-landmark-year-for-bitcoin-btc/" rel="noopener noreferrer nofollow" class="deco-link">landmark year</a> for Bitcoin? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/bitcoin-btc-breaks-above-60k-as-meteoric-rise-signals-market-confidence/">Bitcoin (BTC) Breaks Above $60k as Meteoric Rise Signals Market Confidence</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Bitcoin (BTC) Breaks Above $60k as Meteoric Rise Signals Market Confidence

Table of Contents

Tokenist

Other articles published on Feb 28, 2024

Who Let The DOGE Out? Dog-Themed Coins Soar By 12%, WIF And FLOKI Lead The Way

Gemini Agrees to $1.1 Billion Payback in Earn Program Settlement

Donaldson (DCI) Hits Record Q2 Sales of $876.7 Million, EPS Soars to $0.81

XRP Upward Trend Sparks Excitement: Analyst Predicts Next Price Targets

BONK Holders Buying New ERC-20 SoV “Mollars” Presale

Bitcoin Price Hits $60,000; Here’s the Background of the Bullish Rally!

Join our free newsletter for daily crypto updates!