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QCP Capital attributes Bitcoin’s price surge primarily to developments surrounding the much-anticipated spot ETF. 
The cryptocurrency market is witnessing another dramatic surge in <a href="https://crypto.news/price/bitcoin/">Bitcoin</a> prices, with a remarkable 15% increase since the start of December. This uptick contributes to a significant 158% gain year-to-date for the leading token.&nbsp; 
The catalyst for this latest surge was the SEC’s announcement on Dec. 1, stating that Jan. 5 would be the final deadline for rebuttal comments on spot <a href="https://crypto.news/blackrock-and-bitwise-amended-applications-for-spot-bitcoin-etf-yet-again/">ETFs</a>. This timeline sets up the following week for probable approval, a development eagerly awaited by market participants. 
 You might also like: <a href="https://crypto.news/sec-postpones-decision-on-grayscales-application-for-spot-ethereum-etf/"> SEC postpones decision on Grayscale’s application for spot Ethereum ETF </a> 
QCP Capital had <a href="https://t.me/QCPbroadcast/1110" target="_blank">speculated</a> in a previous update that the SEC might approve the first spot ETF on Jan. 3 to coincide with the 15th anniversary of the Bitcoin genesis block.&nbsp; 
As Bitcoin hovers close to $45,000, questions arise about how much of this news has already been factored into the current prices. According to QCP Capital, the future trajectory, including the possibility of revisiting the all-time high of $69,000, largely hinges on the real market impact of the ETFs post-launch. 
The firm cautions about the potential for a classic “sell-the-news” scenario if the ETFs do not bring substantial new flows. 
 Read more: <a href="https://crypto.news/shiba-inu-soars-21-in-a-week-becomes-18th-largest-cryptocurrency/"> Shiba Inu soars 21% in a week, becomes 18th largest cryptocurrency by market cap </a>

QCP Capital: Bitcoin’s path to $69k hinges on post-ETF volume

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