It’s the first time the price of bitcoin has reached this level since November 2021.
Bitcoin has gained almost 18% over the last week.
(Shutterstock)
Posted February 28, 2024 at 9:13 am EST.
The price of bitcoin continued its remarkable rise Wednesday morning, rising 5.7% over the last 24 hours to surpass the $60,000 mark for the first time since November 2021.
The largest cryptocurrency is now up 17.7% over the last seven days, according to CoinGecko, bringing its market cap to $1.2 trillion. It was most recently trading at $60,540.
Spot bitcoin ETFs, which were finally approved by the SEC in January, have received huge inflows over the last few days, topping $500 million in each of the last two days. As a group, the ETFs have received $6.7 billion in inflows since Jan. 11, according to BitMEX.
[1/4] Bitcoin ETF Flow – 27 Feb 2024
All data now in.
$576.8m net inflow on 27th Feb, very strong day. Blackrock alone had $520m inflow
Total net inflow since 11th Jan 2024 now $6,726.1m for the ETFs pic.twitter.com/E0zDBkzqxm
— BitMEX Research (@BitMEXResearch) February 28, 2024
Bitcoin’s price is now starting to approach its all-time high of just over $69,000 reached on Nov. 10, 2021.
