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


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.

This rally was further bolstered by a $15 million in short liquidations, indicating a strong bullish sentiment among investors.

The ETF expectation: A Turning Point

The U.S. Securities and Exchange Commission (SEC) engaged in pivotal discussions with Grayscale and seven other applicants for spot Bitcoin ETFs to fuel this optimism.

How To Get Free Crypto  

These meetings, particularly the ones involving Grayscale’s CEO Michael Sonnenshein and its custody partner, Coinbase, indicate a heightened interest and potential shift in the regulatory stance towards cryptocurrency ETFs.

Notably, the SEC’s interactions weren’t limited to Grayscale. Conversations with giants like BlackRock and Hashdex and other notable asset managers like Bitwise, VanEck, Fidelity, and Invesco signal a comprehensive review of the crypto ETF landscape.

The discussions varied from technicalities like in-kind versus cash redemption models to broader regulatory implications.

MicroStrategy’s strategic Bitcoin accumulation

MicroStrategy, under the visionary guidance of CEO Michael Saylor, has further cemented its position as a major Bitcoin proponent by acquiring an additional 16,130 BTC.

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.

Coinbase Banner  

Halving countdown adds to enthusiasm

Further fueling the market’s bullish outlook is the anticipation of Bitcoin’s halving event, slated to occur in 141 days. Historically, halving events, which reduce the rate of new Bitcoin creation, have been precursors to significant price rallies.

This upcoming halving is increasingly a catalyst for sustained growth and long-term value appreciation in Bitcoin.

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.

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.

BTC Price & Market Data

At the time of press, Bitcoin is ranked #1 by market cap and the BTC price is up 1.01% over the past 24 hours. BTC has a market capitalization of $778.85 billion with a 24-hour trading volume of $13 billion. Learn more about BTC ›

FreeBitcoin Banner  

BTCUSD Chart by TradingView

Market summary

At the time of press, the global cryptocurrency market is valued at at $1.5 trillion with a 24-hour volume of $40.8 billion. Bitcoin dominance is currently at 52.13%. Learn more ›

Go to Source
Author: News Desk


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.