Bitcoin Achieves Record Monthly Growth, Maintaining High Volatility at $61K

Bitcoin briefly touched 64K in the early morning yesterday, then oscillated at a high level. Although it did not reach a new high before the deadline, it hovered around 61K. Overall, Bitcoin rose nearly $20,000 in February, with a monthly increase of 44%, creating the longest candle in history!

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Bitcoin ETF remains popular, but Grayscale’s outflows reach $600 million
Top 10 cryptocurrency performance
On February 28th, the single Bitcoin spot fund of BlackRock achieved a net inflow of $612 million. Just the net inflow of Fidelity’s FBTC was $245 million, which was more than the outflow of GBTC’s $216 million. Overall, there was a net inflow of $673 million, which is the highest single-day inflow ever.

Although the trading volume on February 29th cooled down, it still reached the second highest in history. Bloomberg’s ETF analyst, Eric Balchunas, boldly predicts that this week’s trading volume will exceed the volume of the first month! Will this become the new norm?

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However, Grayscale’s GBTC saw another outflow of $600 million yesterday, which may have been one of the sources of selling pressure.

Among the top 10 cryptocurrencies, Solana (SOL) performed the best yesterday, with a 8.7% increase and nearly a 30% increase in a week. Additionally, the meme coin originator, Dogecoin (DOGE), led a wave of meme coins’ increase, rising nearly 5% yesterday and an astonishing 40% in a week.

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Meme coins surge, PEPE triples in a month, Andrew Kang emphasizes that DOGE is still undervalued
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