The price of bitcoin (BTC) moved past $42,000 for the first time since April 2022 – a level not seen since before the crash of Terra – while Ether (ETH) moved past $2,200. Bitcoin’s price had been toying with the $40,000 level in recent days, but finally breached it Monday to trade above $41,600 as of press time, according to CoinDesk Indices data, a 24-hour rise of about 6%. Ether was trading around $2,240, a similar percentage gain. The advance spurred crypto stocks higher, too. Crypto exchange Coinbase (COIN) jumped almost 9% in pre-market trading, as did Microstrategy (MSTR). Crypto miners such as Marathon Digital (MARA) and Riot (RIOT) added more than 10%. The other top 10 cryptocurrencies by market capitalization marked smaller gains, and BNB coin (BNB), a token affiliated with the Binance exchange, was little changed. The price of the world’s largest and oldest cryptocurrency fell below $40,000 in April 2022, and has been rallying over the past few months largely due to seemingly dovish comments from U.S. central bankers and hopes that a spot bitcoin exchange-traded fund (ETF) may be approved to launch in the country. Ether had similarly not traded hands above $2,200 since May 2022, though it’s come close a few times.
Full story : Bitcoin Surges Past $42,000 as Crypto Rally Gathers Steam for the first time since April 2022.
