The post Bitcoin Surpasses $41,000: What’s Next for BTC? appeared on BitcoinEthereumNews.com.

– Advertisement – Surprisingly over the weekend, Bitcoin (BTC) price surpassed the expected $40,000 milestone with strong trading volume. Investors are becoming more confident that the Federal Reserve has completed its series of interest rate hikes as inflation begins to slow. Bloomberg Intelligence predicts that a group of proposals from these funds is likely to receive approval from the U.S. Securities and Exchange Commission (SEC) by January. With the strength it gained over the weekend, the Bitcoin price managed to exceed 41K dollars on Monday: What’s next for BTC? Bitcoin Price Trading Above $41,000 Surprisingly over the weekend, Bitcoin (BTC) price surpassed the expected $40,000 milestone with strong trading volume. Currently, BTC is trading at $41,633 with a 5% increase, and the market cap is around $806 billion, with a trading volume of approximately $22 billion. This marks the first time Bitcoin has surpassed the $40,000 level since May 2022, or more than 18 months. The crypto market is closely monitoring the effects of FOMO (fear of missing out) and FUD (fear, uncertainty, and doubt) related to the anticipated approval dates for the ongoing exchange-traded fund (ETF). Analysts speculate that developments in Bitcoin ETFs will influence the trajectory towards $50,000. As investors become more certain that the Federal Reserve has completed its series of interest rate hikes, following a slowdown in inflation, attention has shifted to speculation about potential interest rate cuts next year, creating a favorable environment for a global market rally. Simultaneously, the digital asset industry is awaiting developments related to applications submitted by major players such as BlackRock Inc. These applications are for the introduction of the first spot Bitcoin exchange-traded funds (ETFs) in the U.S. Bloomberg Intelligence predicts that a group of proposals from these funds is likely to receive approval from the U.S. Securities and…

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Filed under: News - @ December 4, 2023 10:16 am