Bitcoin Surges Above $40,000, Reaching New Heights in Crypto Market
Bitcoin price broke above $40,000 for the first time since April 2022, reaching $41,600. This is a level not seen since before the collapse of Terra in May 2022. Ether price also rose, breaking above $2,200 for the first time since May 2022. The advance in crypto prices has spurred gains in stocks of crypto companies like Coinbase, Microstrategy and crypto miners such as Marathon Digital and Riot Blockchain.
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00:00 It's Benzinga and here's what's on the block.
00:02 Bitcoin price broke above $40,000 for the first time since April 2022, reaching $41,600.
00:09 This is a level that has not been seen before the collapse of Terra in May 2022.
00:14 Ether price also rose, breaking above $2,200 for the first time since May of 2022.
00:20 The advance in crypto prices has spurned gains in stocks and crypto companies like Coinbase,
00:24 MicroStrategies, and crypto miners such as Marathon Digital and Riot Blockchain.
00:28 The rise in Bitcoin and crypto prices comes as traders see dovish signals from Federal
00:33 Reserve Chair Jerome Powell regarding interest rates.
00:37 Traders may have also loaded up on call options, betting that Bitcoin will rise to $45,000
00:42 by the end of March 2024.
00:44 For all things money, visit Benzinga.com.
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