Bitcoin surpasses $40,000 for the first time since May 2022

Bitcoin’s positive momentum continued as it surpassed $44,000, reaching a level not seen since April 2022. The leading cryptocurrency saw a 4% increase, hitting $43,794.99, with a brief spike to $44,903.45, marking its highest point since April 7, 2022. This surge has contributed to a year-to-date gain of over 160% for bitcoin. The optimism is fueled by expectations of a potential approval for a spot bitcoin exchange-traded fund (ETF) in the U.S. Reports of meetings between potential ETF issuers and the U.S. Securities and Exchange Commission have boosted investor confidence, with many anticipating the approval of a bitcoin ETF in early 2024.

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