Posted 11/27/2023, 7:40:57 PM
Bitcoin Nears $40K Ahead of Major 'Halving' Event and Potential SEC Approval of ETF
- Bitcoin is hovering near yearly highs around $36,940, down slightly from $38,000 reached on Friday
- Anticipation is building for Bitcoin's upcoming "halving" event in April, which will reduce new supply by 50%
- Bitcoin's network health metrics like hash rate are improving ahead of the halving event
- Rumors persist that the SEC may finally approve a Bitcoin spot ETF, which could bring in $1 trillion in new investments
- Market enthusiasm around the prospects of a Bitcoin ETF continue to push the cryptocurrency's price higher