Key Points
Bitcoin hit the $50,000 level for the first time in more than two years as the world's largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month's regulatory nod for U.S. exchange-traded funds designed to track its price...
"$50,000 is a significant milestone for bitcoin after the launch of spot ETFs last month not only failed to elicit a move above this key psychological level but led to a 20% sell-off," said Antoni Trenchev, co-founder of crypto lending platform Nexo...
The primary driver behind bitcoin's recent price appreciation "can be attributed to the increased inflow into BTC spot ETFs," said Matteo Greco, a research analyst at fintech investment firm Fineqia International, in a research note...
The U.S. securities regulator on Jan. 10 approved the first U.S. spot bitcoin ETFs, a watershed for the world's largest cryptocurrency and the broader crypto industry, which had been trying to bring such a product to market for more than a decade...
"With [the] fourth bitcoin halving, a first Fed interest rate cut and potential ethereum spot ETF approval, all are significant for what is the smallest, youngest and most retail-dominated asset class," said Ben Laidler, global markets strategist at eToro...
