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Bitcoin breaks $40,000 as momentum builds; reaches its highest since April 2022

Bitcoin has broken above $40,000 for the first time this year as it rides a wave of momentum on broad enthusiasm about U.S. interest rate cuts and as traders anticipate the imminent approval of U.S.-stockmarket traded bitcoin funds. The world's biggest currency hit as high as $40,210 in Sunday trade, its highest since April 2022. It was steady at $40,011 in thin trade early in the Asia day on Monday. For the year, bitcoin has more than doubled as it has thrown off the doldrums of the so-called "crypto winter" that followed scandals including the collapse of exchange FTX last year. A spot bitcoin ETF, would allow previously wary investors access to crypto via the stock market.


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