Bitcoin Surges to $41K, Signals Potential Bull Run

Bitcoin has surged past $40,000, delighting bulls and wiping out short positions. The bull run is fueled by macroeconomic changes and anticipation of the first spot price exchange-traded fund (ETF) in the United States. While some traders predict a major price retracement, others believe Bitcoin could continue to rise towards $50,000. The Federal Reserve's potential pivot in economic policy, including lowering interest rates, is also contributing to the positive sentiment in the crypto market. Additionally, Bitcoin miners are relentlessly increasing the hash rate, preparing for the upcoming halving. The Crypto Fear & Greed Index indicates high levels of greed among investors, suggesting the bull market may have room to continue before a correction occurs.