Bitcoin price breaks above $45K, days ahead of potential ETF approval

Jan 01. 2023

By Tom Mitchelhill

The price of Bitcoin (BTC) has broken through $45,000 for the first time in nearly two years as the market prepares for a widely expected approval of a spot Bitcoin exchange-traded fund (ETF) within the next few days. 

Bitcoin climbed rapidly from a price of $42,000 on Jan. 1, surging more than 6% in the last 24 hours and 170% in the last year, per CoinMarketCap data. 

Bitcoin is up 6% in the last 24 hours and 171% in the last year. Source: CoinMarketCap

Bitcoin is trading higher than any price reached in 2023 and marks a significant new yearly high for the asset just two days into 2024. 

Bitcoin's price performance comes as the market gears up for the SEC to approve one or several of the 14 outstanding applications for a spot Bitcoin ETF product, currently pending a decision with the regulator. 

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