MARKET WRAP: Bitcoin $BTC returned above $38K on Monday. February is typically a strong month for BTC, which could keep buyers active. Still, risks remain.
Ten-year Treasury yield daily close: 1.78%
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atOver the past nine years, bitcoin produced an average return of 12% in February, and ended the month with a gain 86% of the time, according to.
"We see a short-term setup forming for a bounce, especially on a close back above $40K BTC and $3K ETH" in February, QCP Capital, a crypto trading firm, wrote in a Monday . The firm also expects market expectations for a U.S. Federal Reserve rate hike to moderate over the next two months, which could benefit equities and cryptocurrencies.Crypto fund flows rise
Investors put money into cryptocurrency funds for a second straight week as the bitcoin market stabilized following one of its worst-ever starts to a year.reportNotably, some $22.1 million flowed into bitcoin-focused funds last week, while Ethereum-focused funds suffered outflows of $26.8 million. Read more
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