Cryptocurrency

Bitcoin ETF

Bitcoin

CRYPTO

<a href="http://tradingview.com/symbols/BTCUSD/">Bitcoin</a>, the world’s most prominent cryptocurrency, continues to show resilience, hovering around the $44,000 mark. As of this writing, the global crypto market capitalization stands at an impressive $1.66 trillion, marking over 2% surge in the last 24 hours. 
Bitcoin’s recent surge past $44,000 can be linked to ongoing discussions about Bitcoin ETFs involving major players like BlackRock, Nasdaq, and the SEC. 
$44k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> 
Break out or break down? <a href="https://t.co/t8ITuZLIhD">pic.twitter.com/t8ITuZLIhD</a> 
— GeckoTerminal (@GeckoTerminal) <a href="https://twitter.com/GeckoTerminal/status/1738089124618465593?ref_src=twsrc%5Etfw">December 22, 2023</a> 
&nbsp; 
The crypto market has experienced substantial growth, with a notable 16% gain this month and a remarkable 165% increase year-to-date. 
This surge follows significant developments, including Argentina’s official adoption of Bitcoin as its national currency and El Salvador’s new law offering citizenship to foreign Bitcoin investors. 
These milestones are fueling optimism and driving positive sentiment in the cryptocurrency arena, as the market anticipates further breakthroughs. 
<h2 id="crypto-market-reaches-1-66t-bitcoin-at-44k-pre-christmas">Crypto Market Reaches $1.66T, Bitcoin at $44K Pre-Christmas</h2> 
 The global crypto market cap has surged to<a href="https://coinmarketcap.com/all/views/all/"> $1.66 trillion</a>, with Bitcoin touching the $44,000 mark just ahead of Christmas. 
This increase is partly attributed to a key meeting involving BlackRock, Nasdaq, and the SEC, discussing a Bitcoin ETF, which sent strong positive signals, fostering an optimistic market sentiment. 
the total crypto market cap is now $1.66 trillion 
it's the highest level since May 2022 
— Jacquelyn Melinek (@jacqmelinek) <a href="https://twitter.com/jacqmelinek/status/1738214242568868221?ref_src=twsrc%5Etfw">December 22, 2023</a> 
Additionally, BTC’s uptick gained further traction following the release of weekly jobless claims data and the <a href="https://ycharts.com/indicators/us_real_gdp_growth#:~:text=US%20Real%20GDP%20QoQ%20is,US%20as%20adjusted%20for%20inflation.">US GDP quarterly growth figures</a>. 
<h2 id="hong-kong-s-crypto-etfs-move-effects-on-bitcoin-s-value">Hong Kong’s Crypto ETFs Move: Effects on Bitcoin’s Value</h2> 
 In a notable shift, Hong Kong’s financial regulator, the Securities and Futures Commission (SFC), is now open to accepting applications for <a href="https://cryptonews.com/news/big-money-management-firms-expect-sec-to-greenlight-spot-bitcoin-etfs-by-january-10.htm">spot crypto ETFs</a>. 
This move, which includes a review of broker policies regarding virtual assets, contrasts with China’s stringent stance on cryptocurrencies. 
CRYPTO BREAKING NEWS This Cryptocurrency-Friendly Country Announces It Is Ready to Accept Bitcoin ETFs!. This country's Financial regulator said today it is ready to start accepting Bitcoin ETF applications. Continue Reading: This Cryptocurrency-Frien… check us out @… <a href="https://t.co/Whf5R1U8Ra">pic.twitter.com/Whf5R1U8Ra</a> 
— InnovatekMobile (@Neome_com) <a href="https://twitter.com/Neome_com/status/1738294090284855347?ref_src=twsrc%5Etfw">December 22, 2023</a> 
&nbsp; 
Hong Kong’s welcoming approach to crypto firms throughout the year has culminated in this significant development, signaling a potential approval of spot ETFs in a more mature financial market. 
Consequently, this move is expected to positively influence Bitcoin’s value, as it reflects increasing acceptance and adoption of cryptocurrencies, potentially drawing more investors and bolstering market confidence. 
<h2 id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
<a href="https://cryptonews.com/coins/bitcoin/">Bitcoin</a>‘s market trends show a strong stance, persistently maintaining above the pivotal $43,000 mark. This resilience is underlined by a substantial support level at around $43,000. Should the price ascend, it faces resistance near $43,500, $44,700, and $46,000. 
If a downward trend occurs, support at approximately $42,200, $41,500, and $40,500 could provide a cushion. 
The Relative Strength Index (RSI) stands at about 64, indicating a bullish trend but still shy of the overbought zone, suggesting potential for further growth. Bitcoin Price Chart – Source: Tradingview 
Bitcoin’s price trajectory consistently stays above the 50-Day Exponential Moving Average, currently near $42,300, supporting a short-term bullish trend. 
The chart displays an upward trendline starting from a recent low around $39,500, pointing to continuous bullish momentum. Given these factors, Bitcoin is anticipated to soon test the resistance around $43,500. 
A breakthrough above this resistance level could lead Bitcoin to confront and possibly surpass additional resistance levels in the near future. 
<h2 id="top-15-cryptocurrencies-to-watch-in-2023">Top 15 Cryptocurrencies to Watch in 2023</h2> 
 Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments. 
Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed. <a style="text-decoration: none;color: white" href="https://cryptonews.com/news/new-cryptocurrency.htm" target="_blank" rel="nofollow noindex noopener" data-darkreader-inline-color="">See the 15 Cryptocurrencies</a> 
Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

Bitcoin Price Prediction: BTC Still Rejected at $45,000 – Can it Breakthrough Before 2024?

Table of Contents

Cryptonews.com

Other articles published on Dec 22, 2023

Bitcoin (BTC) Whales Cash out $2.20 Billion in Week: What's Reason?

BarnBridge DAO Settles with SEC Over Unregistered Crypto Asset Offering

Paxos expands stablecoin issuance to Solana

China’s Central Bank Prioritizes ‘Crypto Asset’ Regulation Amid Rising Risks

Bitfinex Market Analysts Predict $3.2 Trillion Crypto Market Capitalization – Here’s More

BREAKING: FED’s Preferred Inflation Data Released! Here is Bitcoin’s First Reaction

Join our free newsletter for daily crypto updates!