Bitcoin Surges Past $45,000, Eyes Set on $50K Target

Bitcoin surged above $45,000, reaching its highest level in almost a month, driven by increased accumulation by large investors and a decline in trading volumes. The rise in bitcoin's price also lifted crypto-related stocks, while worries about U.S. regional banks have worked in favor of the cryptocurrency as a hedge against uncertainty. Traders anticipate a strong bull cycle through the end of the year, with large investors accumulating assets, as evidenced by the significant increase in the number of bitcoin wallets holding over 1,000 BTC.