Bitcoin Surges to $38K Amid Euphoria Over Planned ETF and Growing Crypto Market
• Bitcoin rose to $38,800 on Friday, its highest level since May 2022, continuing a strong multi-month uptrend • Price jumps driven by euphoria around a planned US spot Bitcoin ETF and data suggesting significant amounts moved to cold storage • Bitcoin strength helped overall crypto market cap top $1.5 trillion, adding $400B since early October • Large cap tokens like Solana and Avalanche have seen prices more than double in past two months • Some analysts say bitcoin growth could slow in December, which is seen as a neutral month historically for the cryptocurrency