Bitcoin's Rally Continues, Soars To 43K, Here's What You Need To Know
Riding high on its trajectory, Bitcoin (CRYPTO: BTC/USD) touched $43K on Tuesday at the time of publication.
Notably, Bitcoin crossed the $40,000 level over the weekend and has continued to trend higher to start the week.
The token has been attaining new heights despite restraint from regulators on the crypto domain, which includes Binance's settlement worth $4.3 billion last month.
The rally comes with the anticipation that the U.S. Securities Exchange Commission will approve a spot in Bitcoin ETF soon.
Several crypto-linked stocks are surging in response to this, including Coinbase Global Inc (NASDAQ: COIN), CleanSpark Inc. (NASDAQ: CLSK), Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Platforms Inc (NASDAQ: RIOT) and HIVE Digital Technologies Ltd (NASDAQ: HIVE).
Yesterday, In a thought-provoking statement, Coinbase's CEO Brian Armstrong proposed that Bitcoincould be pivotal in extending the influence of Western civilization, particularly in defending the long-term interests of the American dollar.
Notably, Bitcoin crossed the $40,000 level over the weekend and has continued to trend higher to start the week.
The token has been attaining new heights despite restraint from regulators on the crypto domain, which includes Binance's settlement worth $4.3 billion last month.
The rally comes with the anticipation that the U.S. Securities Exchange Commission will approve a spot in Bitcoin ETF soon.
Several crypto-linked stocks are surging in response to this, including Coinbase Global Inc (NASDAQ: COIN), CleanSpark Inc. (NASDAQ: CLSK), Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Platforms Inc (NASDAQ: RIOT) and HIVE Digital Technologies Ltd (NASDAQ: HIVE).
Yesterday, In a thought-provoking statement, Coinbase's CEO Brian Armstrong proposed that Bitcoincould be pivotal in extending the influence of Western civilization, particularly in defending the long-term interests of the American dollar.
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NewsTranscript
00:00 Bitcoin soared higher on Tuesday, almost hitting the $44,000 mark at one point.
00:04 But what's behind the recent rally and will it continue?
00:07 Bitcoin has risen more than 13% in the last five days, adding more than $100 billion to
00:12 its market cap.
00:14 The anticipation of the Federal Reserve's interest rate cuts, the SEC's upcoming review
00:18 of the Bitcoin spot ETF in January, and Bitcoin's production reduction scheduled for April have
00:24 contributed to a significant surge in Bitcoin's value, which has exceeded 145% this year alone.
00:31 Shares of Coinbase and Robinhood were also trading higher as investors were eager to
00:35 hear news regarding the spot Bitcoin ETF application development.
00:39 Coinbase shares have gained 70% over the past month amid the growing interest and renewed
00:44 excitement in the crypto market.
00:46 Bitcoin mining stocks are also on the rise, with both Mara and Riot both trading higher.
00:51 For all things crypto news, check out Benzinga.com.