Bitcoin Surges Over 6%, Crossing $45,000 Mark on Speculation of U.S. Spot ETF Approval
Bitcoin (BTC) experienced a notable surge, exceeding $45,000 on the first day of the new year, marking its highest level since early April 2022. The cryptocurrency’s upward movement continues to be fueled by anticipation surrounding the potential approval of U.S.-based spot Bitcoin ETFs by the Securities and Exchange Commission (SEC). Speculation is rife that the SEC might notify ETF sponsors of approval as early as Tuesday, according to a recent Reuters report.
At the time of the latest trading update, BTC is valued at $45,135, showcasing a substantial 6.35% increase and a 5.6% rise over the past 24 hours. This bullish momentum extends beyond Bitcoin, with broader cryptocurrency markets experiencing positive movements. Ethereum (ETH) is up by 4%, while Solana (SOL) and Avalanche (AVAX) have surged by 9%. The market awaits further developments as regulatory decisions potentially impact the cryptocurrency landscape.
