Bitcoin

<p>Bitcoin has broken the $40,000 barrier, a significant milestone energizing the crypto space. In the past 24 hours alone, $23 billion in trading volume was recorded, showcasing the intense market activity surrounding the world’s premier cryptocurrency.</p> 
<p>This rally was further bolstered by a $15 million in short liquidations, indicating a strong bullish sentiment among investors.</p> 
<h2 id="the-etf-expectation-a-turning-point">The ETF expectation: A Turning Point</h2> 
<p>The U.S. Securities and Exchange Commission (SEC) <a href="https://cryptoslate.com/sec-met-with-grayscale-and-seven-other-spot-bitcoin-etf-applicants-in-late-november/">engaged in pivotal discussions</a> with <a href="http://cryptoslate.com/companies/grayscale">Grayscale</a> and seven other applicants for spot Bitcoin ETFs to fuel this optimism.</p> 
<p>These meetings, particularly the ones involving Grayscale’s CEO <a href="https://cryptoslate.com/people/michael-sonnenshein/">Michael Sonnenshein</a> and its custody partner, <a href="http://cryptoslate.com/companies/coinbase">Coinbase</a>, indicate a heightened interest and potential shift in the regulatory stance towards cryptocurrency ETFs.</p> 
<p>Notably, the SEC’s interactions weren’t limited to Grayscale. Conversations with giants like BlackRock and Hashdex and other notable asset managers like <a href="http://cryptoslate.com/companies/bitwise">Bitwise</a>, <a href="http://cryptoslate.com/companies/vaneck">VanEck</a>, <a href="http://cryptoslate.com/companies/fidelity">Fidelity</a>, and Invesco&nbsp;signal a comprehensive review of the <a href="http://cryptoslate.com/etf">crypto ETF landscape</a>.</p> 
<p>The discussions varied from technicalities like in-kind versus cash redemption models to broader regulatory implications.</p> 
<h2 id="microstrategy-s-strategic-bitcoin-accumulation">MicroStrategy’s strategic Bitcoin accumulation</h2> 
<p>MicroStrategy, under the visionary guidance of CEO Michael Saylor, has further <a href="https://cryptoslate.com/insights/microstrategys-latest-bitcoin-purchase-boosts-shareholder-value/">cemented its position as a major Bitcoin proponent</a> by acquiring an <a href="https://cryptoslate.com/insights/microstrategy-owns-nearly-1-of-bitcoins-circulating-supply-after-new-purchase/">additional 16,130 BTC</a>.</p> 
<p>This latest purchase elevates the company’s total Bitcoin holdings to a staggering 174,530 BTC, marking it as their third-largest acquisition since adopting a Bitcoin-focused strategy.</p> 
<h2 id="halving-countdown-adds-to-enthusiasm">Halving countdown adds to enthusiasm</h2> 
<p>Further fueling the market’s bullish outlook is the anticipation of <a href="https://cryptoslate.com/morgan-stanley-believes-crypto-winter-is-over-halving-will-kick-off-new-bull-run/">Bitcoin’s halving event</a>, slated to occur in 141 days. Historically, halving events, which reduce the rate of new Bitcoin creation, have been precursors to significant price rallies.</p> 
<p>This upcoming halving is increasingly a catalyst for sustained growth and long-term value appreciation in Bitcoin.</p> 
<p>Despite the SEC’s reticence in outright approving a spot Bitcoin ETF, these recent developments, coupled with the trading fervor and the upcoming halving, paint a picture of a crypto market on the cusp of a transformative era.</p> 
<p>As the world of finance watches closely, Bitcoin’s latest leap beyond $40,000 could very well be the harbinger of a new chapter in the crypto narrative.</p> 
<p>The post <a href="https://cryptoslate.com/bitcoin-shatters-40k-threshold-amid-etf-discussions-and-halving-anticipation/">Bitcoin price hits $40k amid ETF discussions and BTC halving anticipation</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin price hits $40k amid ETF discussions and BTC halving anticipation

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