Greed

Bitcoin ETF

Bitcoin

Spot

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 <p>In a spectacular beginning to 2024, Bitcoin has surged past the $45,000 threshold, marking a noteworthy achievement for the world’s leading cryptocurrency. This surge coincides with increasing optimism regarding the possible approval of exchange-traded spot Bitcoin funds. This development has the potential to significantly impact the crypto market.</p>
 <h4 class="wp-block-heading" id="h-bitcoin-s-impressive-ascent">Bitcoin’s Impressive Ascent</h4>
 <p>Bitcoin, attained a 21-month pinnacle at $45,488, demonstrating a notable 154% increase in the previous year. This surge represents its most robust performance since 2020, emphasizing the resilience and appeal of BTC despite its price fluctuations. Although BTC is presently valued at $45,344, it remains considerably distant from its record high of $69,000 in November 2021.</p>
 <p>The current Bitcoin Fear and Greed Index, standing at 71 (indicating Greed), mirrors the optimistic sentiment and increasing confidence within the <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> market. As BTC continues to captivate investors’ attention, analysts are contemplating whether the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> will surpass the $50,000 mark before the eagerly anticipated approval of Bitcoin ETFs.</p>
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    <p lang="en" dir="ltr">Bitcoin Fear and Greed Index is 71 – Greed<br>Current price: $44,151 pic.twitter.com/whOtmFMA58</p>— Bitcoin Fear and Greed Index (@BitcoinFear) January 2, 2024
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 <p><strong>Also Read: 1,314 Bitcoin Rigs Seized in Indonesia’s Battle Against Electricity Theft</strong></p>
 <h4 class="wp-block-heading" id="h-speculations-on-spot-bitcoin-etf-approval">Speculations on Spot Bitcoin ETF Approval</h4>
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 <p>Voices in the cryptocurrency community are progressively expressing confidence in the approval of spot BTC ETFs. Reports suggest that approval may materialize as early as the week commencing Jan. 8, 2024. This regulatory development is viewed as a potential catalyst for Bitcoin’s surge. It could potentially pave the way for more institutional investments and wider mainstream acceptance.</p>
 <h4 class="wp-block-heading" id="h-matrixport-s-confident-projection">Matrixport’s Confident Projection</h4>
 <p>Matrixport, a prominent <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> financial services platform, predicts a surge in Bitcoin’s value to $50,000 in January. This optimistic outlook is attributed to various factors. This includes the imminent approval of Bitcoin spot ETFs, heightened institutional investments, supply shortages, and historical trends. Collectively, these elements create a positive atmosphere for BTC, propelling it to new heights in the initial months of 2024.</p>
 <figure class="wp-block-image size-large is-resized"><img decoding="async" width="1024" height="586" src="https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp" alt class="wp-image-123230" style="width: 100%;height:auto" srcset="https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 1024w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 300w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 768w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 1536w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 380w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 550w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 800w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 1160w, https://cdn.thebittimes.com/images/2024/01/03/75642002672217c1164db3ca88eb6a24.webp 1640w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <h4 class="wp-block-heading" id="h-anticipating-altcoin-season">Anticipating Altcoin Season</h4>
 <p>Matrixport’s projection also hints at the possible initiation of an altcoin season, with funding rates expected to rise to 66%. As BTC gains momentum, investors may diversify their portfolios by exploring opportunities in alternative <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. This anticipated altcoin season could further contribute to the overall positive sentiment within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market.</p>
 <p><strong>Also Read: Bitcoin’s Record Exodus: Largest Single-Day Outflow in 12 Months</strong></p>
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 <p>As BTC sustains its upward trajectory, surpassing the $45,000 mark, attention is now focused on its potential to reach $50,000 in the upcoming weeks. The speculated approval of spot Bitcoin ETFs, coupled with supporting factors like increased institutional investments and supply shortages, adds to the optimistic narrative surrounding Bitcoin’s prospects in 2024. Investors and enthusiasts eagerly await further developments, anticipating a landmark moment for BTC and the broader <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> market in the early months of the new year.</p>
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<div class="cs-entry__tags">
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  <li>bitcoin</li>
  <li>btc</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-breaks-45-000-eyes-on-50-000-before-etf-decision-tbt75392.html">https://thebittimes.com/bitcoin-breaks-45-000-eyes-on-50-000-before-etf-decision-tbt75392.html</a></p>

Bitcoin Breaks $45,000: Eyes on $50,000 Before ETF Decision

TheBitTimes

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