Bitcoin Soars Past $37K to Hit 18-Month High on Renewed ETF Hopes
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Bitcoin's price surged past $37,000, reaching an 18-month high, boosted by optimism around a potential Bitcoin ETF approval.
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This is the first time Bitcoin has reached this price level since the Terra implosion in May 2021 caused a crypto market crash.
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Bitcoin has rallied over 124% so far in 2023 after starting the year below $17,000. But it remains well below its all-time high of $69,044.
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The price jump is attributed to growing expectations that the SEC may finally approve a spot Bitcoin ETF, possibly as early as January 2024.
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Major cryptocurrencies like Solana and Chainlink also saw double-digit percentage gains amid the positive market sentiment.