Bitcoin ETF

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Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) gained bullish momentum after witnessing a local low of around $40,500 on Dec. 18. Key indicator suggests further bullish momentum. 
BTC is up by 4.3% in the past 24 hours and is trading at $42,930 at the time of writing. The asset’s market cap currently stands at over $840 billion with a daily trading volume of $26 billion. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/12/Bitcoin-BTC-11.35.11-19-Dec-2023-1024x347.png" alt="Bitcoin getting close to $43k, further rally expected - 22" class="wp-image-14229157">
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 BTC price, whale activity, open interest, Binance funding rate, and RSI – Dec. 19 | Source: Santiment
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According to data provided by the market intelligence platform Santiment, Bitcoin’s Relative Strength Index (RSI) turned bullish, hovering around the 50 mark. For BTC to break the $45,000 zone, its RSI needs to stay below 65. 
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Moreover, as Bitcoin gains bullish momentum, the asset’s whale activity also surged dramatically. Per Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC recorded a 114% rally over the past 24 hours — rising from 6,153 to 13,153 unique transactions in a day. 
Bitcoin’s total open interest (OI) registered a slight increase over the past day. According to Santiment, BTC’s total OI rose from $7.07 billion to $7.31 billion.&nbsp; 
Data shows that Bitcoin’s Binance funding rate suggests a slight dominance of long-position holders — currently standing at 0.015%. However, the exact amounts of long and short positions are still not clear. 
According to a recent report, a crypto analyst, known as Crypto Banter on YouTube, believes that a bigger <a href="https://crypto.news/analyst-claims-bitcoin-is-about-to-dump-rally-is-over/">Bitcoin dump could be on the way</a>. He claims that the market looks unsustainable due to high leverage rates, overhyping <a href="https://crypto.news/tag/meme-coin/">memecoins</a> and airdrops.&nbsp; 
However, the possibility of <a href="https://crypto.news/sec-meets-with-blackrock-for-ishares-bitcoin-etf/">Bitcoin ETF</a> approvals in the U.S. could suggest a bullish sign as trillion-dollar companies are expected to join the industry. 
 Read more: <a href="https://crypto.news/crypto-analyst-stays-bullish-on-xrp-despite-downturn/"> Crypto analyst stays bullish on XRP despite downturn </a>

Bitcoin getting close to $43k, further rally expected

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