Bitcoin Surges Past $47,000, Eyes $50K Milestone
Bitcoin surged above $47,000 for the first time since March 2022, with positive sentiment returning as outflows from the Grayscale Bitcoin ETF slowed and market momentum from the S&P 500 potentially spilled over to crypto. Ether also advanced to $2,482.81. The recent price appreciation is attributed to inflows into spot ETFs, optimism around the upcoming halving, and general market momentum. If bitcoin hits the key resistance level of $48,600, it could open the door to a new all-time high.