![\"\"](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2024\/01\/Bitcoin-longest-win-streak_Bloomberg-graph.jpg\")
<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin is on course to advance for a fifth straight month in what would be the token\u2019s longest such winning streak since a pandemic-era rally oiled by easy money.<\/p>\n
The largest digital asset has risen about 2% in January, a month of pronounced swings sparked by the rollout of the first US spot Bitcoin exchanged-traded funds and shifting views on the outlook for monetary policy.<\/p>\n
A run of five straight monthly gains would be the longest since a six-month stretch spanning October 2020 to March 2021, according to data compiled by Bloomberg.<\/p>\n
The token hit a record high of almost $69,000 in November 2021.<\/p>\n
Spot Bitcoin ETFs from issuers including BlackRock Inc. and Fidelity Investments began trading in the US on Jan. 11.<\/p>\n
The token surged almost 160% last year ahead of the launches in a wager that the ETFs will attract new investors.<\/p>\n
Bitcoin then posted a 12-day drop of about 21% after the funds went live as traders monitored how they fared.<\/p>\n
One of the products, the $21 billion Grayscale Bitcoin Trust, converted into an ETF on Jan. 11 from a closed-end format.<\/p>\n
Investors pulled money from the fund after the change but the pace of withdrawals has cooled, helping the token to claw back losses.<\/p>\n
The slowdown in outflows from the Grayscale fund is \u201ca substantial positive for market sentiment,\u201d Sean Farrell, head of digital-asset strategy at Fundstrat Global Advisors LLC, wrote in a note on Monday.<\/p>\n
The 10 ETFs overall have so far attracted a net $817 million, data compiled by Bloomberg show. The group had the most successful ETF launch in history, going by both trading and flow metrics, according to Bloomberg Intelligence.<\/p>\n
Investors are also awaiting the Federal Reserve interest-rate decision this week, having assigned roughly even odds to the prospect of a cut in March.<\/p>\n
Material changes to that outlook could impact Bitcoin and wider crypto markets given their sensitivity to changes in sentiment and perceptions of liquidity.<\/p>\n
Bitcoin climbed about 1% to $43,500 as of 11:53 a.m. Tuesday in Singapore. Smaller tokens like BNB and Cardano were mixed and traded in relatively narrow ranges.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
A run of five straight monthly gains would be the longest since a six-month stretch spanning October 2020 to March 2021, according to data compiled by Bloomberg.<\/p>\n","protected":false},"author":341034,"featured_media":517699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187,73436,91461,67814],"class_list":["post-523197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-prices","tag-exchange-traded-funds-etfs"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/523197"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=523197"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/523197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/517699"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=523197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=523197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=523197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}