Bitcoin reached over $44,000 for the first time since April 2022, driven by increasing expectations of a spot bitcoin exchange-traded fund (ETF) approval in the U.S.
Bitcoin Reaches New Milestone
Bitcoin surged to over $44,000, marking its highest level since April 2022. The price was up more than 4% at $43,794.99, with a peak of $44,903.45.
Rising Momentum and ETF Optimism
Bitcoin’s upward trend has gained momentum, with a 160% increase in the year. The growing optimism for a spot bitcoin ETF in the U.S. has been a key driver. It is expected that a bitcoin ETF may be approved early in 2024, based on the SEC’s deadlines and feedback on ETF applications.
Insights and Expectations
Additionally, the recent settlement between Binance and the U.S. Department of Justice has been viewed as an important development in the crypto industry cleanup. Investors are also anticipating the Bitcoin halving, scheduled for spring 2024.