After experiencing significant gains in the U.S. on Monday, bitcoin (BTC) continued its upward momentum into early Tuesday morning in Asia, surpassing multiple round number milestones and reaching a price above $57,000 for the first time since November 2021.
As of the latest update, bitcoin has slightly pulled back to $56,500, still maintaining a gain of over 9% in the past 24 hours. The broader CoinDesk 20 Index (CD20) also reflects a positive trend with an 8.9% increase over the same period.
The rally commenced on Monday morning in the U.S., breaking through the $53,000 mark, a level not seen since November 2021. The price continued its ascent, reaching above $54,000 later in the day. The U.S. evening and early Asia morning witnessed heightened activity, with bitcoin swiftly surpassing the $55,000, $56,000, and $57,000 levels within minutes.
The surge in bitcoin’s value on Monday led to notable activity in U.S.-based spot bitcoin ETFs, excluding Grayscale’s GBTC, which recorded a record-high $2.4 billion in trading volume on Monday, as reported by Bloomberg.
Regarding GBTC, it experienced its smallest one-day outflow of bitcoin since the launch of spot ETFs on January 11, with the fund shedding only 921 tokens.