Bitcoin (BTC) Is Approaching $60,000 Threshold – Spot Bitcoin ETFs Sets New ATH In 2 Straight Days
With only a day left before the month ends, Bitcoin (BTC) is still skyrocketing. For two days in a row, the spot Bitcoin ETFs has also set a new ATH.
The #1 cryptocurrency has surged to $59,000 and now approaching the $60,000 level. Bitcoin’s massive surge ranging from $17,000 to $18,000 in February has formed a significant bullish candle rarely seen in crypto history since early 2021. Technical indicators also show that after the last correction, the price could go further targeting $65,000.
Meanwhile, spot Bitcoin (BTC) ETFs continue to attract interest after setting a new ATH in two days in a row. According to Santiment, spot BTC ETFs’ combined trading volumes in the last two days have gone up to $7.64 billion.
This figure shows the current record high, surpassing its previous ATH of $6.15 billion. In addition, the market also witnessed a $6.15 billion high by $1.49 billion on February 25, suggesting that the new ATH was recorded in 2 consecutive days.
The recent increase in trade volume follows a bearish trend on February 19. Notably, trade volume witnessed three consecutive days of steady declines hitting a one-week low of $1.64 billion on February 22.
During this time, Bitcoin (BTC) also witnessed a significant bearish trend resulting in less interest in spot Bitcoin ETFs.
At this time of writing, Bitcoin (BTC) is trading at $59,389.05, showing a 4.92% increase in the last 24 hours. Bitcoin’s total market cap has also increased by 4.98% to $1.16 trillion.
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