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 endless optimism surrounding a potential 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, in accordance with CryptoSlate’s knowledge.
Information from Coinglass shows that BTC’s worth motion liquidated greater than $70 million from quick merchants in the course of 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 Change Fee (SEC) met with a number of asset managers, together with Grayscale, BlackRock, and others, in direction of the top of November relating to their proposed spot Bitcoin ETFs.
In the meantime, the worth improve has made BTC one of many world’s prime 10 property by market capitalization, forward of Warren Buffet’s Berkshire Hathaway and Elon Musk’s electrical automobile maker Tesla. Nonetheless, it stays a couple of billion behind social media behemoth Meta, in accordance with data from CompaniesMarketCap.
BTC’s market capitalization stands at $811.89 billion as of press time, in accordance with 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 important positive factors in the course of 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 may be 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 in the course of the weekend earlier than mildly retreating to $64 as of press time, in accordance with CryptoSlate’s knowledge.
Others like Cardano, Dogecoin, BNB, and XRP noticed greater than 2% positive factors in the course of the reporting interval. Notably, Terra-related cash—Terra Classic and Terra Luna– are amongst CryptoSlate’s top gainers list right this moment.
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