Bitcoin

Gold

April

Bitcoin has recently surpassed the significant $42,000 mark, a level not seen since April 2022. 
This surge comes before the crash of Terra, marking a noteworthy recovery in the cryptocurrency market. Ether (ETH), another major player, also saw a substantial rise, crossing the $2,200 threshold. 
<figure id="attachment_25476" aria-describedby="caption-attachment-25476" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-25476" src="https://crypto.ro/en/wp-content/uploads/2023/12/BTC_1D_graph_coinmarketcap-16.png" alt="Bitcoin 1D price performance" width="919" height="284" srcset="https://crypto.ro/en/wp-content/uploads/2023/12/BTC_1D_graph_coinmarketcap-16.png 919w, https://crypto.ro/en/wp-content/uploads/2023/12/BTC_1D_graph_coinmarketcap-16-300x93.png 300w, https://crypto.ro/en/wp-content/uploads/2023/12/BTC_1D_graph_coinmarketcap-16-768x237.png 768w, https://crypto.ro/en/wp-content/uploads/2023/12/BTC_1D_graph_coinmarketcap-16-750x232.png 750w" sizes="(max-width: 919px) 100vw, 919px" title="Bitcoin breaches $42,000, Ether tops $2,200, market sentiment bullish 19">
 <figcaption id="caption-attachment-25476" class="wp-caption-text">
 Bitcoin 1D price performance
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</figure> 
These movements indicate a robust upward trend in the crypto space, reflecting growing investor confidence and market dynamism. 
<a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> had been flirting with the $40,000 level recently but managed to breach this psychological barrier, trading above $41,600. This represents a substantial 24-hour increase of around 6%. Ether mirrored this growth, trading at approximately $2,240. 
The positive trend in these leading cryptocurrencies has had a ripple effect, buoying related stocks. Notably, Coinbase (COIN) saw a near 9% increase in pre-market trading, and Microstrategy (MSTR) experienced similar growth. Crypto miners like Marathon Digital (MARA) and Riot (RIOT) saw over 10% gains. 
This rally is not just confined to Bitcoin and <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">Ether</a>; other top cryptocurrencies have also posted gains, albeit smaller. Interestingly, BNB coin (BNB), tied to the Binance exchange, remained relatively stable amidst these fluctuations. 
The rise in Bitcoin’s value is attributed to a mix of factors, including dovish comments from U.S. central bankers and the anticipation of a spot bitcoin exchange-traded fund (ETF) approval in the U.S. 
This optimism is further bolstered by the recent withdrawal of 37,000 BTC, indicating a trend of investors taking direct custody of their coins. 
Gold prices have also surged, hitting a record high of over $2,100 per ounce, influenced by dovish comments from Federal Reserve Chairman Jerome Powell. 
This has contributed to a bullish sentiment in the market, with expectations of a rate cut in the coming year. Powell’s recent statements suggest that the tightening cycle may have peaked, adding to the positive sentiment around cryptocurrencies. 
The upcoming week is critical, with U.S. ISM services PMI data and non-farm payrolls for December on the horizon. 
These figures could influence the Fed’s rate cut decisions for 2024, potentially impacting Bitcoin’s trajectory. Despite potential volatility, traders are optimistic, betting on Bitcoin’s rise to $45,000 by the end of March 2024.

Bitcoin breaches $42,000, Ether tops $2,200, market sentiment bullish

crypto.ro global

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