Bitcoin is on a roll, surging towards its all-time high and racking up its biggest monthly gain since December 2020.

The leading cryptocurrency is currently trading around $62,600, up over 48% in February, after reaching a remarkable high of $63,933 overnight, marking the most significant increase since December 2020.

This rally has also ignited the smaller Ethereum (ETH-USD), which has skyrocketed more than 50% this month, currently trading at $3,462.

This dramatic uptick in value can be attributed to several key factors:

• ETF Boom: The long-awaited approval and launch of spot Bitcoin ETFs in the US has opened the door for mainstream investors, injecting fresh capital and reigniting the fire after the 2022 crypto winter.
• Halving Frenzy: The upcoming April halving event, which reduces the supply of new Bitcoins, has historically led to price surges driven by increased demand from scarcity. This scarcity is reinforced by Bitcoin's finite supply, capped at 21M coins, with 19M already mined and only 2M remaining to be mined, enhancing its attractiveness to investors.
• Fed Pivot: The possibility of the Federal Reserve lowering interest rates has sparked investor appetite seeking alternatives for assets like Bitcoin, seen as a hedge against inflation.

The surge in Bitcoin is having a ripple effect, lifting other digital currencies and related stocks. Altcoins like Ripple (XRP-USD) +0.4%, Dogecoin (DOGE-USD) +26.8%, and Binance Coin USD (BNB-USD) +0.3% are experiencing gains.

Similarly, cryptocurrency-linked stocks like Riot Platforms (RIOT) +3%, MicroStrategy (MSTR) +7%, Bit Digital (BTBT) +4%, Cleanspark (CLSK) +7%, Cipher Mining (CIFR) +3%, and Coinbase (COIN) +2.3% are seeing significant increases.