A first for Bitcoin since April 2022! It has surpassed the critical level
Bitcoin has surpassed 41 thousand dollars for the first time since April 2022.
The cryptocurrency Bitcoin is trading above 41 thousand dollars for the first time since April 2022, driven by expectations that the US Federal Reserve (FED) has reached the end of its tightening cycle and that US regulators will soon approve a Bitcoin exchange-traded fund.
According to the report on NTV; Bitcoin rose to as high as 42 thousand 336 dollars in the last 24 hours.
WHY DID BITCOIN RISE?
The price of Bitcoin gained more than 5.65 percent in the last 24 hours, influenced by growing expectations that the US Securities and Exchange Commission (SEC) will soon approve a Bitcoin spot ETF (exchange-traded fund). Data showing that inflation in the US is slowing down, which supports forecasts that the Fed has completed its interest rate hikes, also bolstered the rise in Bitcoin.
Bitcoin, which saw 68 thousand 990 dollars in November 2021, has lost approximately 39 percent of its value since that date.
News Source: 12punto
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