Bitcoin Rings In 2024 With Rise Past $45,000, Just Days Before Likely Spot ETF Approval

Bitcoin Rings In 2024 With Rise Past $45,000, Just Days Before Likely Spot ETF Approval
фото показано с : zycrypto.com

2024-1-2 15:04

Bitcoin has greeted 2024 with a noteworthy achievement. The world’s largest and oldest crypto ticked back above $45,000 on New Year’s Day as bullish traders eagerly await the U.S. Securities and Exchange Commission’s potential approval of a bitcoin spot exchange-traded fund (ETF).

Could 2024 be the year the SEC greenlights a spot BTC EFT?

BTC Blows Past $45,000 As ETF Approval Nears

Bitcoin is back above $45,000 per coin after hitting that mark on the first day of the new year for the first time since April 2022. BTC is trading for around $45,452.26 at the time of publication. The asset is up 7.7% in 24 hours. In the past week, it has risen by more than 7%, according to CoinGecko. 

At the current price, BTC is up over 170% compared to this time last year. The premier crypto kicked off 2023, changing hands at sub-$17,000.

Bitcoin’s bullish upward movement comes as the market braces for the SEC to give the regulatory blessing to one or all of the 14 outstanding fillings for a spot BTC ETF product, currently awaiting a decision from the agency.

Over the weekend, news dropped that the SEC could start notifying ETF applicants as early as Tuesday or Wednesday that their applications would be greenlighted.

The consensus in the crypto community is the regulatory agency will now approve a spot bitcoin ETF after saying no for a decade. An ETF being approved is perceived as a bullish event as it would allow traditional investors to get exposure to the top crypto in a safe and regulated way.

BTC Ready For Liftoff?

A breakthrough above the psychologically important $45,000 level suggests good things for market sentiment and fortifies the belief that the bullish rally could continue.

Prominent crypto trader-cum-analyst Scott Melker (aka Wolf of all streets) told his 925,000 followers on X that BTC is presently forming a bull pennant following a month of consolidation at prices around $40,000.

Melker forecasts that Bitcoin could break above $54,000 in the days after the potential approval from the SEC. 

VanEck adviser Gabor Gurbacs, however, argued yesterday that the “initial impact” of a spot bitcoin ETF is being dramatically overestimated — estimating it may only register net inflows of around $100 million from “mostly recycled” capital from deep-pocketed institutional investors upon listing. But Gurbacs says the ETFs could bring in trillions of dollars to the cryptocurrency sector in the long term.

Other pundits like ARK Invest’s Cathie Woods warn the market might experience a “sell the news” event post-ETF approval.

origin »

Bitcoin (BTC) на Currencies.ru

$ 81285.92 (+1.94%)
Объем 24H $59.488b
Изменеия 24h: 1.52 %, 7d: -1.97 %
Cегодня L: $76901.4 - H: $81874.59
Капитализация $1612.34b Rank 1
Цена в час новости $ 45461.5 (78.8%)

bitcoin 2024 largest world achievement oldest back

bitcoin 2024 → Результатов: 126


Metaplanet wants to boost its Bitcoin holdings to 10,000 in 2025

Metaplanet started buying Bitcoin in May 2024 as a strategic treasury reserve The Tokyo-listed company currently holds 1,761.98 Bitcoin It saw its Bitcoin yield reach 310% between October 1, 2024 to December 23, 2024 compared to 41% between July 1, 2024 to September 2024 Metaplanet is on a mission to boost its Bitcoin holdings to […] The post Metaplanet wants to boost its Bitcoin holdings to 10,000 in 2025 appeared first on CoinJournal.

2025-1-7 01:46


Why Bitcoin (BTC) Was the ‘Single Biggest Winner’ of the 2024 US Election

The Kobeissi Letter highlighted Bitcoin’s substantial gains following the 2024 U. S. election. It states that the crypto emerged as the “single biggest winner. ”  Moreover, with pro-crypto candidates securing prominent victories, Bitcoin and the crypto sector as a whole appear to have received a political boost, gaining further legislative support.

2024-11-12 10:30


Сможет ли Трамп выполнить свои обещания биткоинерам?

Пожалуй, самым громким предвыборным ходом Дональда Трампа (Donald Trump) стало его выступление на конференции Bitcoin 2024, украшенное таким букетом обещаний, от которых у биткоин-максималистов закружилась голова.

2024-8-3 18:23


Америка на биткоине: Кеннеди планирует сформировать стратегический запас криптовалюты

Независимый кандидат в президенты США Роберт Кеннеди-младший (Robert F. Kennedy Jr. ) решил сыграть ва-банк в предвыборной гонке. На конференции Bitcoin 2024 он выступил с речью, от которой у криптоэнтузиастов должно было перехватить дыхание.

2024-7-27 11:13


Bitcoin Price Boost Ahead: CEO’s Bold Prediction Points To 10 US States Adopting Pro-BTC Laws In 2024

In a recent statement, Dennis Porter, the co-founder and CEO of Satoshi Action Fund, expressed his belief that the year 2024 will mark a crucial turning point in the history of Bitcoin.   Porter’s remarks amidst growing anticipation surrounding the approval of spot Bitcoin exchange-traded funds (ETFs) and the highly anticipated halving event scheduled for April 2024.

2023-11-23 04:00