Skip to content

Bitcoin zips previous $41,000 amid endless ETF optimism

Bitcoin’s (BTC) worth zipped previous $41,000 for the primary time within the final 19 months earlier at the moment, Dec. 4, fueled by the endless optimism surrounding a potential spot exchange-traded fund (ETF) approval within the U.S.

The highest digital asset gained greater than 5% over the last 24 hours to commerce at $41,448 as of press time, persevering with an upward worth motion that emerged over the weekend, in keeping with CryptoSlate’s information.

Information from Coinglass reveals that BTC’s worth motion liquidated greater than $70 million from brief merchants throughout the reporting interval, with the only largest liquidation occurring on Bitmex, valued at $6.01 million.

BTC’s rally follows a latest revelation that the Securities and Trade Fee (SEC) met with a number of asset managers, together with Grayscale, BlackRock, and others, in direction of the tip of November relating to their proposed spot Bitcoin ETFs.

In the meantime, the value improve has made BTC one of many world’s high 10 belongings by market capitalization, forward of Warren Buffet’s Berkshire Hathaway and Elon Musk’s electrical automotive maker Tesla. Nevertheless, it stays a couple of billion behind social media behemoth Meta, in keeping with information from CompaniesMarketCap.

BTC’s market capitalization stands at $811.89 billion as of press time, in keeping with CryptoSlate’s information.

Ethereum, others surge.

BTC’s upward motion additionally lifted the worth of a number of different cryptocurrencies, together with Ethereum, Solana, and Cardano, which posted important features throughout the reporting interval.

ETH, the second-largest digital asset by market cap, elevated by greater than 4% to interrupt $2,200 for the primary time since Might 2022. Its ascent may be attributed to the optimism surrounding the spot Ethereum ETF functions filed by a number of conventional monetary giants, together with BlackRock.

Alternatively, Solana continues its year-long constructive momentum, breaching the $65 mark throughout the weekend earlier than mildly retreating to $64 as of press time, in keeping with CryptoSlate’s information.

Others like Cardano, Dogecoin, BNB, and XRP noticed greater than 2% features throughout the reporting interval. Notably, Terra-related cash—Terra Traditional and Terra Luna– are amongst CryptoSlate’s high gainers listing at the moment.

continue reading