Bitcoin Surges Above $40K, Setting New High Since May 2022

Bitcoin has surged to levels not seen since May 2022, briefly touching $38,000 before settling around $37,800. The price increase is attributed to expectations of a possible approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Crypto-related stocks, including Coinbase, Stronghold Digital Mining, and Marathon Digital Holdings, also experienced gains. Laurent Kssis predicts that bitcoin could rally to $40,000 over the weekend. Ether, the second largest cryptocurrency, also saw a 3% increase in value.