Bitcoin ETF

Bitcoin

Spot

<ul>
 <li><strong>At the time of writing, Bitcoin is trading at $45,060, up 2.12% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to climb above $45,800 level, then it will likely test $48,400 level.</strong></li>
</ul>
<p>With Bitcoin’s price rising back above $45,000, crypto investors had every reason to be excited at the start of the new week. Early reports indicated that on January 5, BlackRock bought $10 million worth of <a href="https://thenewscrypto.com/japanese-e-commerce-giant-mercari-embraces-bitcoin-payments/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>. The investment firm had anticipated a volume of over $2 billion for its Spot Bitcoin ETF.</p>
<p>Last week, the price of Bitcoin hit $42,000 after a drop caused by a research by Matrixport that highlighted the low likelihood of ETF approvals.&nbsp;</p>
<h3 class="wp-block-heading" id="h-highly-anticipated-approval">Highly Anticipated Approval</h3>
<p>The market experiences a cloud of fear of missing out (FOMO) because of the highly anticipated Bitcoin ETF decisions, which has caused even whales to go on a purchasing binge.</p>
<p>After purchasing 6,000 BTC ($158.66M) at $26,444, a prudent investor acquired 1,750 BTC ($76.9M) from Binance at an average price of $43,953. The investor made $26.4 million after dumping 3,000 bitcoins ($105.7 million) to Binance at $35,241.</p>
<p>The U.S <a href="https://thenewscrypto.com/sec-issues-fomo-warning-ahead-of-potential-bitcoin-etf-approvals/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> has cautioned people against investing in cryptocurrencies due to the fear of missing out (FOMO) amidst ongoing anticipation of a Bitcoin Spot ETF approval. Using social media, the SEC’s educating arm issued a warning against fear of missing out (FOMO) investing.</p>
<p>At the time of writing, Bitcoin is trading at $45,060, up 2.12% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 62.75%.&nbsp;</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/2024/01/BTC_7D_graph_coinmarketcap-1-1.png" alt="" class="wp-image-88750" srcset="https://thenewscrypto.com/wp-content/uploads/2024/01/BTC_7D_graph_coinmarketcap-1-1.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/01/BTC_7D_graph_coinmarketcap-1-1-300x181.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 climb above $45,800 level, then it will likely climb further to test $48,400 resistance level. On the other hand, if the price manages to go below $44,030 level, then it will likely decline further to test $43,750 support level.</p>

Bitcoin Climbs Above $45K Level Amidst Potential Spot BTC ETF Approval

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TheNewsCrypto

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