Price Of Bitcoin (BTC) Starts The Year Flying Above $45,000. The Imminent Approval Of Bitcoin ETFs Is The Reason

Comienzo de año 2024 del precio de Bitcoin (BTC)

✍️ 2 January, 2024 - 8:21 👤 Editor: Jakub Motyka

The price of Bitcoin (BTC) has exceeded $45,000 as soon as the new year 2024 begins, a significant milestone that it had not reached since April 2022.

This increase comes amid investor anticipation for the imminent approval of Bitcoin exchange-traded funds (ETFs) in the United States.

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Bitcoin (BTC) Starts 2024 Rising Above $45,000 In Price

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has risen 2.45% in the last 24 hours, reaching a maximum price of $45,518 in the early hours of this Tuesday, January 2, 2024.

Precio de Bitcoin (BTC) en las últimas 24 horas hoy, 2 de enero de 2024
Chart with the price of Bitcoin (BTC) today for the last 24 hours (January 2, 2024).

This price movement comes after the SEC (United States Securities and Exchange Commission) has notified 14 asset managers of the imminent approval of their ETF applications. Spot Bitcoin, marking on the calendar as early as Tuesday or Wednesday, ahead of the January 10 deadline.

Experts in the sector, such as Justin d'Anethan of Keyrock, have pointed out to The Block that news about Blackrock, Fidelity and other Bitcoin ETF applicants is reinforcing the narrative that ETFs for this crypto are on the way and will arrive soon.

On the other hand, Markus Thielen of Matrixport suggests that Bitcoin (BTC) could surpass $50,000 by this weekend, citing the absence of sellers in the market and an increase in the Bitcoin funding rate, indicating that long-term investments are more dominant at the moment​​.

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