From Investing.com:

Bitcoin reached the $50,000 mark, the highest in over two years, buoyed by anticipated interest rate cuts and regulatory approvals for U.S. ETFs tracking its price. Its 16.3% gain this year saw a record-high of $49,899 on Monday. This surge was also observed in crypto stocks, with Coinbase up 4.9%, and other cryptocurrencies such as ether, rising 4.12% to $2,607.57.

Bitcoin’s significant price appreciation was attributed to the inflow into BTC spot ETFs and the recent approval of the U.S. spot bitcoin ETFs by the U.S. securities regulator. This has led to a reduction of outflows from Grayscale Investment’s Grayscale Trust and a total net inflow of about $1.2 billion to BTC Spot ETFs. There are also seven pending applications for ETFs tied to the spot price of ether, with a decision expected by May.

Investors anticipate Bitcoin’s next “halving,” in April, designed to slow down its release. With the potential approval of an ethereum spot ETF and a Fed interest rate cut, analysts believe these events are significant for the cryptocurrency market, being the smallest, youngest, and most retail-dominated asset class.



Read more: Bitcoin hits $50k level for first time in more than two years By Reuters