Bitcoin Set for Best Gain Since Q4 2024 With $77.5K Monthly Close
Bitcoin had not matched the scale of its monthly gains in the fourth quarter of 2024 for an extended period. The latest rebound coincided with the S&P 500 reaching a record high, signaling renewed investor risk appetite. Growth in the supply of stablecoin issuer Tether’s USDT also brought fresh trading liquidity to the crypto market.
The latest monthly candle showed Bitcoin closing at $77,500, putting it on track for its best monthly gain since the fourth quarter of 2024 and its strongest monthly performance in nearly a year. USDT supply increased by $5 billion over the same period, providing an important liquidity signal for the rebound, while the S&P 500 also reached a fresh all-time high.
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The history behind this eventBitcoin Eyes $80,000 Monthly High as Market Indicators Turn Bullish
Bitcoin has not posted an equally strong 28-day return since April 2025. The price has now reclaimed a key trend line, while a market sentiment index has risen to a three-month high. The move is significant because spot buying and derivatives capital are returning in tandem, suggesting the rally is not being driven solely by a short-term squeeze.
Bitcoin climbed as high as $79,472 on Wednesday, approaching the $80,000 threshold and setting a new monthly high. Market data showed simultaneous increases in BTC derivatives open interest and a positioning index, indicating an influx of fresh capital. With the price holding above $77,000, traders continued to add bullish positions.
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