BTC/USD: Bitcoin Tops $45,000 to Hit 21-Month High as ETF Approval Deadline Looms

The Securities and Exchange Commission may notify spot Bitcoin ETF applicants of its decision to approve or reject their filings as soon as today.

• The price of Bitcoin BTCUSD surged to a 21-month high, ringing in 2024 on a highly upbeat note. The orange coin jumped 7% on Tuesday to eclipse $45,000, peaking at a daily high of $45,500. A key week is unfolding, and investors are optimistic about what’s coming.
• The Securities and Exchange Commission is slated to reveal who will get the greenlight over the first US-based spot Bitcoin exchange-traded fund. More precisely, the first ETF to hold actual Bitcoin, not futures contracts, may arrive this week if the US regulator grants the go ahead.
• Starting today, through January 10, the Bitcoin ETF approval window is pushing demand for crypto assets across the board. Besides Bitcoin, Ethereum ETHUSD powered higher by 4% and Solana SOLUSD rocketed 13% to $115, riding its recent monster run. Broadly, the crypto market is zeroing in on a $1.8 trillion valuation for the first time since early 2022.