Bitcoin appears set to extend its winning streak for a fifth consecutive month, marking its longest positive run since the pandemic-triggered rally. Amidst January’s notable volatility, driven by the debut of the first US spot BTC exchange-traded funds and shifting views on monetary policy, the largest digital asset has seen a roughly 2% increase. If this trend continues, it would be the lengthiest winning stretch since October 2020 to March 2021.
The recent introduction of spot Bitcoin ETFs, including those from BlackRock Inc. and Fidelity Investments, has been a significant factor in this ongoing momentum. Despite a 12-day drop after the ETFs went live, BTC’s recovery has been aided by a slowdown in outflows from the Grayscale Bitcoin Trust, a positive signal for market sentiment.
Bitcoin is trading at around $43,500, while smaller tokens like BNB and Cardano show mixed performance within relatively narrow ranges.
The broader crypto market remains watchful of the Federal Reserve‘s interest-rate decision this week, with potential impacts on BTC and other cryptocurrencies. As of now, BTC is trading at around $43,500, while smaller tokens like BNB and Cardano show mixed performance within relatively narrow ranges.