December 4, 2023Akshit Tyagi

Bitcoin breaks $40,000 mark as momentum builds

Bitcoin has broken above $40,000 for the first time this year as it rides a wave of momentum on broad enthusiasm about US interest rate cuts.

Source: Republic

The world's biggest cryptocurrency hit $41,522 on Monday, its highest since April 2022 and has seemed to cast off the funk that had settled over crypto markets since the collapse of FTX.

Source: Pexels

A 50% rally since mid-October has "seemed to mark a decisive shift away from the bearishness of 2022 and early 2023," said Justin d'Anethan - head of business development for Asia-Pacific at Keyrock.

Source: Republic

Ether, the coin linked to the Ethereum blockchain network, also made a 1-1/2 year high on Monday, hitting $2,253.

Source: Pexels