Bitcoin zips past $41,000 amid unending ETF optimism

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

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

Knowledge from Coinglass shows that BTC’s value motion liquidated greater than $70 million from quick merchants throughout the reporting interval, with the one largest liquidation occurring on Bitmex, valued at $6.01 million.

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

In the meantime, the worth 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 number of billion behind social media behemoth Meta, in accordance with data from CompaniesMarketCap.

BTC’s market capitalization stands at $811.89 billion as of press time, in accordance 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 good points 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 is also attributed to the optimism surrounding the spot Ethereum ETF functions filed by a number of conventional monetary giants, together with BlackRock.

However, 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 accordance with CryptoSlate’s information.

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

DailyBlockchain.News Admin

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