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As voices come out in favor of spot Bitcoin ETF approval probabilities in January 2024, the Bitcoin (BTC) Price entered the brand new yr with renewed bullish momentum. This comes amid stories stating that the approval might come within the week beginning January 8, 2024.

Also Read: Ethereum (ETH) Metrics Hints Readiness for Huge Gains, Is $2500 Possible?

BTC Price: Before & After Approval

In what might be attributable to a worry of mission out (FOMO) sentiment amongst merchants and buyers, the BTC Price jumped to over $45,000 on Monday, January 1, 2023. The crypto market has largely been optimistic a few potential approval of the spot Bitcoin ETF earlier than January 10, 2024, earlier than which the U.S. Securities and Exchange Commission (SEC) is required to take a call as a part of the Ark 21Shares spot Bitcoin ETF submitting. CoinGape reported {that a} choice on the Ark 21Shares submitting was earlier postponed on August 11, 2023.

Accordingly, Reuters reported that the SEC was on path to provide the nod to the primary ever spot Bitcoin ETF within the United States. The report quoted sources as saying that the SEC officers have already cleared the approval for subsequent week and that the filers could also be knowledgeable of the identical on January 9 or 10, 2024.

Also Read: Bitcoin (BTC) Halving: Here are 5 Potential Cycles to Watch

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Anvesh stories main crypto updates round U.S. regulation and market transferring traits. Published over 1,200 articles to this point on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The introduced content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.