Bitcoin reaches its highest level since November 2021!

The price of the cryptocurrency Bitcoin has climbed above $60,000, reaching its highest level since November 2021, as interest in spot Bitcoin exchange-traded funds (ETFs) continues.

According to Coinmarketcap data, the value of the global cryptocurrency market, including Bitcoin, has increased by 3.3 percent in the last 24 hours, exceeding $2 trillion 230 billion.

This rise was driven by increased investment in spot Bitcoin ETFs, with Bitcoin gaining more than 6 percent in value over the last 24 hours.

Expectations that major central banks will begin lowering interest rates and shift toward a more supportive monetary policy are also fueling the rise in Bitcoin.

Trading at $60,500 as of 16:25 TSI today, Bitcoin has reached its highest value since November 2021, with its weekly gains exceeding 18 percent.

Analysts note that the halving process, which will take place in April and reduce the supply of new Bitcoin, could support the upward momentum in the cryptocurrency's price.

Ethereum, which ranks second in terms of market value, also gained 2.6 percent in the last 24 hours, reaching the $3,339 level. Ethereum had also set a record in 2021 by climbing above $4,000.

The U.S. Securities and Exchange Commission (SEC) approved 11 different spot Bitcoin ETF applications on January 11.

News Source: AA