Bitcoin Surges Past $45K at the Start of the Year, Highest Level in Months
The price of bitcoin (BTC) has experienced a significant surge, increasing by over 6% on the first day of the new year. Bitcoin has now surpassed $45,000 for the first time since April 2022.
The main driving force behind this recent rally is the anticipation surrounding the approval of several spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). According to a recent Reuters report, the SEC is expected to notify ETF sponsors of their approval as early as Tuesday.
At the time of writing, BTC is priced at $45,135, reflecting a 6.35% increase in the past 24 hours. Other cryptocurrencies are also experiencing a positive trend, with ether (ETH) up by 4%, and solana (SOL) and avalanche (AVAX) gaining 9%.
Overall, the cryptocurrency market is off to a promising start in the new year, with bitcoin leading the way to new highs. Investors and enthusiasts are eagerly awaiting further developments in the ETF approval process, which could potentially fuel even greater growth in the crypto market.