Bitcoin traders anticipate price rebound as BTC hits $42,000

Bitcoin (BTC) price has breached the $42,000 mark for the first time in nearly a week, bringing relief to traders.

The surge in price follows a recent downturn caused by a sell-off linked to the spot Bitcoin ETF.

Bitcoin’s value rose significantly from $39,545 on January 26 to reach $41,973, marking a 5% increase.

This price performance comes amid a slowdown in outflows for Grayscale’s GBTC spot ETF.