Bitcoin cools off near all-time high, XRP holds ground

Bitcoin’s recent meteoric rise has shown signs of a temporary halt, currently trading at $61,712 – still near its highest point in over two years and within reach of its all-time high of $69,000.

This surge, with February marking Bitcoin’s biggest monthly gain in over three years (up 45%), has been fueled by an influx of cash into recently launched Bitcoin exchange-traded funds (ETFs) in the US.

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The recent excitement surrounding the upcoming Bitcoin halving event, scheduled for April, has also contributed to the rally. This pre-programmed event, occurring every four years, reduces the number of new Bitcoins entering circulation, potentially impacting its price.

While Bitcoin takes a breather, other major cryptocurrencies haven’t missed a beat. Ethereum reached a two-year high of $3,516, and embattled XRP, after briefly spiking to $0.62, currently sits at $0.59.