Bitcoin zips past $41,000 amid unending ETF optimism

Bitcoin’s (BTC) terms zipped past $41,000 for the archetypal clip successful the past 19 months earlier today, Dec. 4, fueled by the unending optimism surrounding a imaginable spot exchange-traded money (ETF) support successful the U.S.

The apical integer plus gained much than 5% during the past 24 hours to commercialized astatine $41,448 arsenic of property time, continuing an upward terms question that emerged implicit the weekend, according to CryptoSlate’s data.

Data from Coinglass shows that BTC’s terms enactment liquidated much than $70 cardinal from abbreviated traders during the reporting period, with the azygous largest liquidation occurring connected Bitmex, valued astatine $6.01 million.

BTC’s rally follows a caller revelation that the Securities and Exchange Commission (SEC) met with respective plus managers, including Grayscale, BlackRock, and others, towards the extremity of November regarding their projected spot Bitcoin ETFs.

Meanwhile, the terms summation has made BTC 1 of the world’s apical 10 assets by marketplace capitalization, up of Warren Buffet’s Berkshire Hathaway and Elon Musk’s electrical car shaper Tesla. However, it remains a fewer cardinal down societal media behemoth Meta, according to data from CompaniesMarketCap.

BTC’s marketplace capitalization stands astatine $811.89 cardinal arsenic of property time, according to CryptoSlate’s data.

Ethereum, others surge.

BTC’s upward question besides lifted the worth of respective alternate cryptocurrencies, including Ethereum, Solana, and Cardano, which posted important gains during the reporting period.

ETH, the second-largest integer plus by marketplace cap, accrued by much than 4% to interruption $2,200 for the archetypal clip since May 2022. Its ascent could besides beryllium attributed to the optimism surrounding the spot Ethereum ETF applications filed by respective accepted fiscal giants, including BlackRock.

On the different hand, Solana continues its year-long positive momentum, breaching the $65 people during the play earlier mildly retreating to $64 arsenic of property time, according to CryptoSlate’s data.

Others similar Cardano, Dogecoin, BNB, and XRP saw much than 2% gains during the reporting period. Notably, Terra-related coins—Terra Classic and Terra Luna– are among CryptoSlate’s top gainers list today.

The station Bitcoin zips past $41,000 amid unending ETF optimism appeared archetypal connected CryptoSlate.