Solana

Bitcoin

Terra

Bitcoin’s (BTC) price zipped past $41,000 for the first time in the last 19 months earlier today, Dec. 4, fueled by the unending optimism surrounding a possible spot exchange-traded fund (ETF) approval in the U.S.
The top digital asset gained more than 5% during the last 24 hours to trade at $41,448 as of press time, continuing an upward price movement that <a href="https://cryptoslate.com/bitcoin-shatters-40k-threshold-amid-etf-discussions-and-halving-anticipation/" rel="noopener noreferrer nofollow">emerged over the weekend</a>, according to CryptoSlate’s data.
Data from Coinglass <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">shows</a> that BTC’s price action liquidated more than $70 million from short traders during the reporting period, with the single largest liquidation occurring on Bitmex, valued at $6.01 million.
BTC’s rally follows a recent <a href="https://cryptoslate.com/sec-met-with-grayscale-and-seven-other-spot-bitcoin-etf-applicants-in-late-november/" rel="noopener noreferrer nofollow">revelation</a> that the Securities and Exchange Commission (SEC) met with several asset managers, including <a href="https://cryptoslate.com/companies/grayscale-investments/" rel="noopener noreferrer nofollow">Grayscale</a>, <a href="https://cryptoslate.com/companies/blackrock/" rel="noopener noreferrer nofollow">BlackRock</a>, and others, towards the end of November regarding their proposed spot Bitcoin ETFs.
Meanwhile, the price increase has made BTC one of the world’s top 10 assets by market capitalization, ahead of Warren Buffet’s Berkshire Hathaway and Elon Musk’s electric car maker Tesla. However, it remains a few billion behind social media behemoth Meta, according to <a href="https://companiesmarketcap.com/assets-by-market-cap/" rel="noopener noreferrer nofollow">data</a> from CompaniesMarketCap.
BTC’s market capitalization stands at $811.89 billion as of press time, according to CryptoSlate’s data.
<h2 id="ethereum-others-surge">Ethereum, others surge.</h2>
BTC’s upward movement also lifted the value of several alternative cryptocurrencies, including <a href="https://cryptoslate.com/coins/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>, <a href="https://cryptoslate.com/coins/solana/" rel="noopener noreferrer nofollow">Solana</a>, and <a href="https://cryptoslate.com/coins/cardano/" rel="noopener noreferrer nofollow">Cardano</a>, which posted significant gains during the reporting period.
ETH, the second-largest digital asset by market cap, increased by more than 4% to break $2,200 for the first time since May 2022. Its ascent could also be attributed to the optimism surrounding the spot Ethereum ETF <a href="https://cryptoslate.com/fidelity-files-for-spot-ethereum-etf-trailing-blackrocks-lead-by-two-days/" rel="noopener noreferrer nofollow">applications</a> filed by several traditional financial giants, including BlackRock.
On the other hand, Solana continues its year-long <a href="https://cryptoslate.com/solana-defi-achieves-204-ytd-growth-amid-10-sol-price-rally/" rel="noopener noreferrer nofollow">positive momentum</a>, breaching the $65 mark during the weekend before mildly retreating to $64 as of press time, according to CryptoSlate’s data.
Others like Cardano, <a href="https://cryptoslate.com/coins/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin</a>, <a href="https://cryptoslate.com/coins/bnb/" rel="noopener noreferrer nofollow">BNB</a>, and <a href="https://cryptoslate.com/coins/xrp/" rel="noopener noreferrer nofollow">XRP</a> saw more than 2% gains during the reporting period. Notably, Terra-related coins—<a href="https://cryptoslate.com/coins/terra-classic/" rel="noopener noreferrer nofollow">Terra Classic</a> and <a href="https://cryptoslate.com/coins/terra/" rel="noopener noreferrer nofollow">Terra Luna</a>– are&nbsp;among CryptoSlate’s <a href="https://cryptoslate.com/biggest-gainers/" rel="noopener noreferrer nofollow">top gainers list</a> today.
The post <a href="https://cryptoslate.com/bitcoin-zips-past-41000-amid-unending-etf-optimism/" rel="noopener noreferrer nofollow">Bitcoin zips past $41,000 amid unending ETF optimism</a> appeared first on <a href="https://cryptoslate.com" rel="noopener noreferrer nofollow">CryptoSlate</a>.

Bitcoin zips past $41,000 amid unending ETF optimism

Table of Contents

CryptoSlate

Other articles published on Dec 4, 2023

President Nayib Bukele Declares Success as El Salvador’s Bitcoin Venture Proves Profitable

Bitcoin Investment Returns of El Salvador Skyrocket, President Claims

Brazil’s Largest Lender Itau Unibanco Brings Bitcoin Trading Service to Clients

Stocks in US Markets Gain Strength from Bitcoin: How Much Did Each Stock Rise?

Gold and Bitcoin Soar to New Heights, Setting Records in Financial Markets

Shiba Inu Price Prediction As Shibarium Daily Transactions Hit 7.8M, Is SHIB Going To $0.00001?

Join our free newsletter for daily crypto updates!