Bitcoin Soars to Its Highest Level in the Last 20 Months

Bitcoin has surged, surpassing the unprecedented level of $40,000 since early May 2022, reaching up to $41,792. There is also a noticeable increase in daily active addresses and daily trading volume!

The price of Bitcoin has surged, surpassing the $40,000 threshold for the first time since May 2022, alongside a rise in gold prices. This marks the peak of the last 20 months, with Bitcoin currently trading at around $41,450.

Notably, there is a positive market response to the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States. With the participation of industry giants such as BlackRock, Grayscale, and Fidelity among the 13 applicants, it is anticipated that the Securities and Exchange Commission (SEC) will decide on these applications soon. Bloomberg’s ETF analysts also believe that all pending proposals will be simultaneously approved by January 10th.

Alongside this surge, there is a significant increase in active addresses. In the last 24 hours, BTC, trading around $41,450 with a 5.4% increase, has reached the highest level in 20 months. Bitcoin’s daily trading volume also recorded a substantial 49% increase, reaching $23.6 billion. The daily count of active addresses has risen from 863,600 to 919,410.

All these developments are contributing to a positive impact on the cryptocurrency market. Expectations for ETF approval and the possibility of the Federal Reserve lowering interest rates send positive signals to the market.

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