Market Wrap: Bitcoin Holds Above $60K as Crypto Market Cap Reaches New High

Market Wrap: Bitcoin Holds Above K as Crypto Market Cap Reaches New High
Bitcoin rose toward $62,000 as the first U.S. futures-based bitcoin exchange-traded product (ETF) was set to go live this week. The world’s largest cryptocurrency by market capitalization was up about 2% over the past 24 hours as the total crypto market cap reached an all-time high near $2.5 trillion on Monday.Most of the price rally was attributed to the U.S. Securities and Exchange Commission’s (SEC) approval of the ProShares Bitcoin Strategy ETF on Friday, which will start trading on the New York Stock Exchange tomorrow. Bitcoin rallied about 30% over the month as bullish sentiment improved ahead of the bitcoin…