The price of the world’s largest and oldest cryptocurrency fell below $40,000 in April 2022, and has been rallying over the past few months largely due to seemingly dovish comments from U.S. central bankers and hopes that a spot bitcoin exchange-traded fund (ETF) may be approved to launch in the country.
Ether had similarly not traded hands above $2,200 since May 2022, though it's come close a few times.
Read more: Bitcoin Eyes $40K as $1B in BTC Withdrawals Suggests Bullish Mood
Bitcoin holders withdrew 37,000 BTC between Nov. 17 and Dec. 1, suggesting they were taking direct custody of their coins, CoinDesk reported earlier this week.
Bitcoin's move above $40,000 comes as gold hit a record high of over $2,100 per ounce during the early Asian trading hours in response to dovish comments from Federal Reserve chairman Jerome Powell.
