Bitcoin (XBT) Hits $40,000 Level for the First Time Since May 2022

Bitcoin scaled $40,000 for the first time since May 2022 as the largest digital asset extended a rebound on expectations of interest-rate reductions and greater demand from exchange-traded funds.

The token added about 1% to trade at $40,005 as of 7:22 a.m. on Monday in Singapore, taking its 2023 jump to 142%. Bitcoin was last at $40,000 before the TerraUSD stablecoin collapse that contributed to a rout in digital assets and a daisy chain of collapses in the crypto sector.

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