Bitcoin soared past the $54,000 price and used to be flirting with the $55,000 threshold on Monday afternoon ET. The closing time BTC used to be shopping and selling at this level used to be bigger than two years in the past at the starting of Dec. 2021.

The biggest cryptocurrency by market cap jumped to as high as $54,924 in the past 24 hours earlier than settling at around $54,750 at the time of publication, a 5.8% fetch since the day earlier than at the present time, outpacing a couple of the main cryptocurrencies, CoinGecko files reveals.

When in contrast, ETH has increased 2.9% to $3,186 in the equivalent length, whereas the CoinDesk Market Index, which acts as a substantial benchmark for the whole crypto condo, has increased 4.59%. Gold, on the different hand, used to be truly flat at $2,040.70, per Yahoo Finance.

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Bitcoin’s tag jump comes as “the whole #Bitcoin ETF class had its 2nd most traded day ever at $3.2 billion,” as Bloomberg analyst James Seyffart wrote on X Monday afternoon. “[The] supreme day bigger used to be originate day when they traded $4.6 billion.”

Yes $IBIT had a fully monster day of $1.3 billion in quantity. But the whole #Bitcoin ETF class had its 2nd most traded day ever at $3.2 billion. Most efficient day bigger used to be originate day when they traded $4.6 billion.

Here’s viewable on the terminal at {G #BI 124517} https://t.co/nB6UrVmPDt pic.twitter.com/sRd1TMLvee

— James Seyffart (@JSeyff) February 26, 2024

Blackrock’s iShares Bitcoin Belief (IBIT) “went wild” and broke its document by roughly 30%, Bloomberg ETF analyst Eric Balchunas shared on X. This “ranks it 11th among all ETFs (High 0.3%) and High 25 among stocks. Insane number for [a] newbie ETF (esp one w ten opponents). $1b/day is huge boy level quantity, ample for (even huge) institutional consideration,” Balchunas wrote.

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In step with a Dune dashboard created by Hildebert Moulié, aka Hildobby, an files scientist at VC firm Dragonfly, Blackrock’s IBIT ETF holds 126,950 bitcoins price about $6.9 billion, the second-most in the aid of Grayscale’s GBTC, which holds over 450,000.