Bitcoin surges past $40K on hopes for US exchange approval

Bitcoin rose to $40,700 on Monday, its highest level since May last year, boosted by hopes that the US will soon allow broader trading of the cryptocurrency.
The digital asset has skyrocketed this year, gaining nearly 150 percent, with expectations growing that US regulators will allow the creation of exchange-traded funds (ETFs).
Bitcoin remains well below its record value of almost $69,000 in 2020, but the rally marks a recovery following the high-profile scandals and collapses that rocked the crypto industry.

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