The crypto market rose steeply in a straight line throughout February as inflows into the recently launched spot Bitcoin ETFs accelerated and institutional investors started making allocations to the crypto asset class in their portfolios. With strong drivers specific to Bitcoin and Ethereum, the two leading crypto assets outperformed initially, both rising over +50%, but after a slight last-minute pullback, Bitcoin, Ethereum and the overall market (S&P Broad Crypto Market Index) all ended the month up +44-45%.
Bitcoin traded between USD 41,879 and 63,913 in February, and Ether traded between USD 2,244 and 3,519.
The Sygnum Monthly Investment Outlook is available to qualified investors. For additional insights on the digital asset markets, find more updates here.
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