Bitcoin zips previous $41,000 amid never-ending ETF optimism

Bitcoin’s (BTC) worth zipped previous $41,000 for the primary time within the final 19 months earlier right this moment, Dec. 4, fueled by the never-ending optimism surrounding a doable 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, based on CryptoSlate’s knowledge.

Knowledge from Coinglass shows that BTC’s worth motion liquidated greater than $70 million from quick merchants through 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 Alternate Fee (SEC) met with a number of asset managers, together with Grayscale, BlackRock, and others, in the direction of the top of November concerning their proposed spot Bitcoin ETFs.

In the meantime, the worth improve has made BTC one of many world’s high 10 property by market capitalization, forward of Warren Buffet’s Berkshire Hathaway and Elon Musk’s electrical automotive maker Tesla. Nonetheless, it stays just a few billion behind social media behemoth Meta, based on data from CompaniesMarketCap.

BTC’s market capitalization stands at $811.89 billion as of press time, based on CryptoSlate’s knowledge.

Ethereum, others surge.

BTC’s upward motion additionally lifted the worth of a number of various cryptocurrencies, together with Ethereum, Solana, and Cardano, which posted vital positive factors through 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 Could 2022. Its ascent is also attributed to the optimism surrounding the spot Ethereum ETF applications filed by a number of conventional monetary giants, together with BlackRock.

Then again, Solana continues its year-long positive momentum, breaching the $65 mark through the weekend earlier than mildly retreating to $64 as of press time, based on CryptoSlate’s knowledge.

Others like Cardano, Dogecoin, BNB, and XRP noticed greater than 2% positive factors through the reporting interval. Notably, Terra-related cash—Terra Classic and Terra Luna– are amongst CryptoSlate’s top gainers list right this moment.