ETF Financial News

Bitcoin (BTC)’s market cap could flip that of gold within two years, thus bringing its price up to $700,000 per coin.

Bitcoin's recent rally may have taken it past the $42,000 market and helped put the crypto winter of 2022 far in the distance. However, it was also a year the largest cryptocurrency by market capitalization started on shaky grounds at a mere $16,500 level.

MicroStrategy’s executive chairman Michael Saylor believes that Bitcoin (BTC) can still be 1000x from its current price of $41,500 – if given enough time.

Shares of public crypto companies listed in the US experienced a surge on Monday as Bitcoin (BTC) surpassed $42,000, reaching a new high for the year.

“The natural trend of whichever country has the reserve currency is to inflate the money supply and increase deficit spending until it loses that advantage,” Armstrong posted, pointing out that “the U.S. is somewhere on this journey.”

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

Bitcoin topped US$42,000 as frenzied speculation in cryptocurrencies gathers pace, extending the largest digital token’s rally to more than 150 per cent this year.

On November 20, 2023, a critical meeting was held between the United States Securities and Exchange Commission (SEC) and representatives from BlackRock, Inc., and the Nasdaq Stock Market LLC. The meeting's primary focus was the discussion of the iShares Bitcoin Trust and its potential listing on Nasdaq as a spot Bitcoin exchange-traded fund (ETF).

(Reuters) — Cryptocurrency-related stocks listed in the U.S. surged on Monday, looking to extend their strong November gains, as bitcoin topped $42,000 to hit a fresh high for the year.

Majors rising across the board, stablecoin supply going up, and institutional money scrambling to get on-chain ahead of the Bitcoin ($BTC) Spot ETF. The trajectory is already clear and soon the pre-bull market phase will give way to the authentic bull market. That means another memecoin season is coming.

Grayscale, which manages the Grayscale Bitcoin Trust (GBTC), was in the news after it updated its trust agreement for the first time since 2018. According to reports, the move is to optimize the GBTC fund and reportedly upgrade it as a spot Bitcoin exchange-traded fund (ETF).

cryptocurrency, jumped 5.2% to $41,476 in Monday's trade amid excitement about US interest rate cuts and as traders anticipate the imminent approval of US stock market traded bitcoin funds. This is the first time that Bitcoin crossed the $41,000 mark in the last 19 months. Meanwhile, Ethereum, the second largest cryptocurrency, surged 4.4% to $2,251.8 amid a broader rally in the crypto markets. The global cryptocurrency market cap also surged 4.18% to around $1.54 trillion in the last 24 hours. «The crypto market is witnessing its best performance since May 2022 with Bitcoin and Ethereum breaching the $41,000 and $2,200 mark respectively. The US Fed is expected to cut the interest rate in 2024 and that may boost the liquidity in the market, we may be witnessing early signs of the same,» said Shivam Thakral, CEO of BuyUcoin. «The US Committee on Financial Services calling a December 8 hearing on digital assets may lead to a strong regulatory framework focussing on investor protection, which could prove highly beneficial for the broader digital asset market. The growing optimism around Bitcoin ETF approval will continue to create waves of positive sentiments within the global digital asset community and we can expect this momentum to sustain in the coming weeks,» he said.

Axis US Treasury Dynamic Bond ETF FoF, DSP Nifty Smallcap250 Quality 50 Index Fund, Motilal Oswal Small Cap Fund will open for subscription on December 5. Samco Dynamic Asset Allocation Fund will open for subscription later this week.

Investing.com-- Bitcoin rose past $40,000 a dollar for the first time in 2023 on Monday, aided by growing optimism over an early interest rate cut by the Federal Reserve, while focus also remained on the potential approval of a spot exchange-traded fund for the token. 

Bitcoin surpassed $40,000 for the first time since May 2022. In the early hours of Monday morning, the token added about 1% to trade at $40,005 on Monday in Singapore, taking its 2023 jump to 142%. Before the TerraUSD stablecoin collapse, Bitcoin was last at $40,000, contributing to a rout in digital assets.

Bitcoin has broken above $40,000 for the first time this year as it rides a wave of momentum on broad enthusiasm about US interest rate cuts and as traders anticipate the imminent approval of US-stockmarket traded bitcoin funds. The world's biggest currency hit as high as $40,210 in Sunday trade, its highest since April 2022. It was steady at $40,011 in thin trade early in the Asia day on Monday.

U.S. stocks ended higher on Friday to notch another winning week as remarks from Federal Reserve Chair Jerome Powell bolstered the view that the U.S. central bank is done with raising interest rates.

As Bitcoin soars to a striking $39,390, up by a significant 1.50% in the last day, the crypto community is abuzz with anticipation. This remarkable surge forms a crucial part of the broader escalation in the total cryptocurrency market cap, which has now eclipsed the $1.5 trillion milestone.

Closing November with an 8.86% increase in value, Bitcoin has sustained its upward trend for the past two months.

The Securities and Exchange Commission (SEC)’s move to start a public comment period for spot Bitcoin (BTC) ETF applications earlier than expected has stirred up optimism around the launch of these products. 

In the ever-evolving landscape of digital currencies, Bitcoin showcases a bullish stride, currently trading at $38,765 with a commendable increase of nearly 2% on Saturday. As December unfolds, the cryptocurrency market radiates optimism, with Bitcoin edging towards a 19-month peak, reflecting a robust commencement for crypto stocks.