From Investing.com:

The digital currency ecosystem rebounds with a 3.69% market cap increase to $1.61 trillion. Bitcoin leads the momentum, surging 3.97% to $41,688.27, its first break above the $41,000 resistance. The recent sell-offs coincided with SEC approval of spot Bitcoin ETF products, leading to major liquidation events and investor fund movements.

The emergence of Bitcoin spot exchange traded funds (ETF) products led to unexpected investor fund movements from Grayscale Bitcoin Trust (GBTC) to other issuers due to excessive fees. However, there has been a slower pace in the exodus of funds from GBTC, allowing Bitcoin to maintain its grip above the $41,000 support zone.

Technical considerations and the upcoming Bitcoin halving event suggest potential for further growth. The BTC/USDT daily chart indicates a relative strength index of 47.71 and a potential bullish flip. The Bollinger Bands also show a reversal in trend toward the upside. Analyst Max Keiser sees a $50,000 immediate target for Bitcoin in the short term.



Read more: Bitcoin (BTC) Welcomes First Big Breakthrough Above $41,000 By U.Today