The price gain came amid new signs of growing mainstream adoption of bitcoin and other cryptocurrencies.
Bitcoin (BTC) trading around $57,775.92 as of 20:00 UTC (4 p.m. ET). Climbing 2.86% over the previous 24 hours.
Bitcoin’s 24-hour range: $55,639.58-$58,179.66 (CoinDesk 20)
BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
After two days of losses, bitcoin ended Thursday in the green after markets closed in the U.S.
The gains came amid new signs of growing mainstream adoption of bitcoin and other cryptocurrencies.
State Street, the second-oldest bank in the U.S. with $3.1 trillion in assets under management, announced it is providing the infrastructure for a new bank-grade trading platform for digital assets set to go live mid-year – and that it might eventually use the system itself.
Also, BNY Mellon, the world’s largest financial custodian, would be the service provider for a proposed bitcoin exchange-traded fund (ETF) offered by First Trust Advisors and Anthony Scaramucci’s SkyBridge Capital.
But spot trading volume has not been able to match the rising prices, continuing to drop Thursday on the eight U.S.-focused crypto exchanges tracked by CoinDesk.