Bitcoin tops $62,000 to close out its best month since 2024

Bitcoin tops $62,000 to close out its best month since 2024

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Crypto prices extended recent gains on Thursday as bitcoin and ether closed out their best winning months since 2020 and 2022,  Bitcoin tops

Bitcoinrose 3% to $62,216.43 on the final day of February, according to Coin Metrics. On Wednesday, it surged to $64,000 at one point, before a wave of long liquidations triggered a pullback to about $60,000.

As bitcoin took a breath after its big run on Thursday — it’s on pace for a 21% weekly gain — other cryptocurrencies caught up. Ether surged 3.5% to $3,400.80. Tokens tied to Ethereum rivals Solana and Cardano jumped 16% and 9%, respectively.

The two blue-chip coins shot higher in February after finishing January little changed. Bitcoin ended up nearly 45% for the month, marking its sixth-straight monthly gain — its best showing since December 2020. Ether advanced more than 47%, also a sixth straight monthly advance and its best month since July 2022.

February was a triumph for bitcoin exchange-traded funds, which saw a record $677 million in daily net inflows on Wednesday alone, the third straight day of inflows above $500 million. Initially, outflows

Bitcoin trades above $62,000 level for the first time since November 2021; Dogecoin, Solana jump up to 32%

The world’s largest cryptocurrency was last up 8.5% at $62,135, its highest since November 2021, while Ethereum rose 5.35% to $3,436, having hit another two-year high. Meanwhile, the global cryptocurrency market cap surged 8.9% to nearly $2.3 trillion in the last 24 hours.

BTC changed hands at as high as $63,933 overnight. Its monthly gain is more than 47%, the largest since December 2020.

Manhar Garegrat, Country Head at Liminal Custody Solutions, said, “Bitcoin has reached $64,000, backed by strong inflows from Bitcoin Spot ETFs, growing institutional adoption and macro conditions in developed countries that support investments into assets like Bitcoin.

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