Bitcoin on Track for Biggest Monthly Gain Since October 2021

Bitcoin advanced for a fifth straight day, putting the biggest cryptocurrency on pace for its biggest monthly gain since the October 2021 market mania.

Bitcoin rose as much as 4.9% to $59,494 on Wednesday as of 10:15 a.m. in London. It has climbed on all but eight trading days so far in February, rallying 39% for the month. Digital-asset gains were broad, with Ether rising about 3% and Solana and Avalanche also trading higher.

The launch of spot Bitcoin exchange-traded funds in the US in early January has driven a frenzy of buying, sweeping aside concerns that the Federal Reserve ...