On Monday, cryptocurrency-related equities soared in the United States as Bitcoin surpassed $42,000, its highest level since April 2022. The increase was ascribed to excitement about future US interest rate decreases and the acceptance of US stock exchange-traded bitcoin funds. Investors expected the prospective ETF clearance to have a big influence on investment appetite, fueling euphoria due to improved regulation and accessibility. Furthermore, the impending halving in the coming year added to the good feeling. Coinbase, Microstrategy, and Bitcoin miners such as Riot Platforms, Marathon Digital, and CleanSpark all saw significant gains in November, contributing to their good results. Despite recent sector-wide declines, the surge marks a turnaround from lackluster mood earlier in the year, with Bitcoin up over 150% in 2023, aiming for its highest annual performance since 2020.
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