Bitcoin has reached the $50,000 mark, a level unseen in over two years, propelled by anticipation of upcoming interest rate cuts and recent regulatory approval for U.S. exchange-traded funds linked to its value. With a 16.3% surge this year, Bitcoin hit $50,196 on Monday.
This milestone follows a failed attempt post the launch of spot ETFs last month, which triggered a 20% sell-off. Crypto-related stocks, including Coinbase, Riot Platforms, Marathon Digital, and MicroStrategy, also experienced gains. Ethereum, the second-largest cryptocurrency, rose 4.08% to $2,606.60.