Bitcoin Brings $40,000 in View After 2023 Surge on ETF, Fed Bets

Bitcoin’s chances of hitting $40,000 are top of mind for crypto speculators as they head into the final stretch of a year during which the largest digital asset more than doubled in price.

The token has rebounded about 130% over the past 11 months from 2022’s crypto rout, outstripping investments like stocks or gold. Hopes for Federal Reserve interest-rate cuts next year, and expectations that the US will allow its first spot Bitcoin exchange-traded funds, together created a potent elixir.

The rally weathered a US crackdown that put Sam Bankman-Fried behind bars for fraud at FTX and ...