Bitcoin ETF

Bitcoin

Arthur

<ul>
 <li><strong>At the time of writing, Bitcoin is trading at $43,652, up 0.10% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go above $44,211 then it will likely test the $45,900 level.</strong></li>
</ul>
<p>The cryptocurrency market is now experiencing an upswing due to the upcoming halving and the anticipation of a spot Bitcoin ETF. Surprisingly, <a href="https://thenewscrypto.com/can-bitcoin-btc-hit-46k-before-2024/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has emerged unscathed from its 2022 slump, adding almost $530 billion to its market valuation with a 160% increase in value this year.</p>
<p>There has been a resurgence of interest in the cryptocurrency market as a whole, and Bitcoin in particular, thanks to this surprise rebound. The biggest asset manager in the world, BlackRock, has made some major changes to its S-1 filing with the <a href="https://thenewscrypto.com/sec-postpones-decision-on-multiple-ethereum-etfs-until-may-2024/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> concerning the Bitcoin spot ETF.</p>
<p>The updated S-1 filing shows that $10 million has been put aside as seed money for the spot Bitcoin ETF by BlackRock. Nevertheless, this does not mean that the launch will happen immediately.</p>
<p>Arthur Hayes issued a stern warning to the cryptocurrency community, saying that the Bitcoin as a whole might be in jeopardy if the U.S. SEC approves a spot Bitcoin ETF. The distinctiveness of Bitcoin, according to Hayes, is in the fact that it is a moving money asset.</p>
<h3 class="wp-block-heading" id="h-consolidation-phase">Consolidation Phase</h3>
<p>At the time of writing, Bitcoin is trading at $43,652, up 0.10% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 33.27%. The price has been consolidating lately, waiting to break out in either direction.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/12/BTC_7D_graph_coinmarketcap-7.png" alt="" class="wp-image-88069" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/BTC_7D_graph_coinmarketcap-7.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/BTC_7D_graph_coinmarketcap-7-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go above $44,211 then it will likely surge further to test the $45,900 resistance level. However, if the price goes below $43,380 level, then it will likely test $42,750 support level.</p>

Bitcoin Eyes Breaking Above $44K Mark as Bulls in Control

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