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Bitcoin Pierces $40,000 for the First Time Since May 2022
As the market awaits the possible approval of US spot Bitcoin exchange-traded funds and amid predictions of lower interest rates, Bitcoin approached $41,000, continuing the year's upward trend.
The largest digital asset continued its 2023 surge, with the token gaining 2.9% to $40,867. This brings its 2023 climb to 146%.
The last time Bitcoin reached this level was in April 2022, just before the collapse of the TerraUSD stablecoin, which sparked a $2 trillion bubble in digital assets.
As inflation declines, investors are becoming more and more certain that the Federal Reserve has had enough rate rises, shifting the emphasis to how much the Fed will probably lower rates next year.
