From NASDAQ, Inc.:

The rebounding cryptocurrency rally saw Bitcoin soar past $50,000 and Ethereum jump to $2,638.62 on Feb 12 for the first time in years.

Bitcoin’s price briefly declined to around $49,000 after reaching the milestone, following a positive sentiment increase due to 11 spot Bitcoin ETFs getting approval from the US Securities and Exchange Commission.

Additionally, anticipation of a Bitcoin halving and the Federal Reserve signaling rate cuts in 2024 drove a resurgence in the cryptocurrency space, along with the positive performance of the S&P 500 and Dow.

Financial infrastructure provider Coinbase Global, Inc. and investment companies like NVIDIA Corporation, BlackRock, Inc., and CME Group Inc. were among the companies in the cryptocurrency market to watch, expecting significant growth rates for the current year and beyond, and they reflected potential optimism in the cryptocurrency market.



Read more: 4 Stocks to Track as Bitcoin Price Roars Past $50,000