Bitcoin hit a 27-month high Monday evening, breaking through $57,000 for the first time since 2021 when it reached all-time highs. 

Ether (ETH) also extended its rally, hovering just below $3,300 — the highest it’s been in almost two years. 

Continued demand for bitcoin ETFs — the iShares Bitcoin Trust hit $1 billion in value traded Monday — coupled with greater demand for bitcoin from exchanges is contributing to price moves, analysts say. 

Read more: Bitcoin ETF interest abound as BlackRock fund has record day

“​​Centralised Exchanges are also witnessing a heightened demand for BTC, highlighted by a significant withdrawal of over 18,000 BTC from Coinbase, leaving the…

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