Bitcoin jumped to start the week, moving even closer to its all-time high after the rally took a breather over the weekend.
The flagship cryptocurrency was last up 7% at $67,665.72, according to Coin Metrics. Earlier, it rose to $67,736.21, its highest level since November 2021, when it hit an all-time high. Ether advanced 4%, trading near January 2022 highs at $3,607.49.
Both currencies are coming off their best week in nearly a year — bitcoin gained 21% and ether 16% — but halted their run over the weekend as the market digested two days of strong exits from the Grayscale Bitcoin Trust (GBTC) that were offset. by inflows to other “newborn” bitcoin exchange-traded funds.
“With the birth of these nine ETFs, big moves now tend to take place during the normal trading week instead of weekends,” said Antoni Trenchev, co-founder of crypto exchange Nexo.
– Michael Saylor#Bitcoin it is a Union. pic.twitter.com/kcdN2f3L6F
— ⚡₿itcoinTeddy⚡ (@Bitcoin_Teddy) February 28, 2024
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