look news india
Mumbai: In the current month, Bitcoin has recorded its biggest monthly gain since October, 2021. After a strong rise on Tuesday, Bitcoin's rise continued on Wednesday and the price crossed the level of $ 60,000. So far in the current month, Bitcoin has jumped 40 percent.
By late evening, Bitcoin was quoted at $59300, Ethereum at $3363 and Sola at $111.
A huge influx of investors into Bitcoin exchange traded funds (ETFs) has fueled buying in Bitcoin. Despite concerns that the US Federal Reserve will keep interest rates high for a long time, Bitcoin is seeing a bullish environment.
Given the continuous buying in Bitcoin, there is a prevailing opinion among players that it will soon surpass the all-time high of $69000 seen in November 2021.
Following the launch of the Spot Bitcoin ETF, interest in the risky digital asset from retail and institutional investors is increasing.
It is reported that spot Bitcoin ETFs saw a total trading volume of $3 billion on Tuesday. Other cryptos like Ethereum, Solana, XRP also gained popularity behind Bitcoin. As a result of this surge, the total market cap of cryptocurrencies also increased to more than $2.32 trillion.