spot_imgspot_imgspot_img

Bitcoin Price Reaches $40,000 Level Again After a Prolonged Period!

  • According to current data, after approximately a 9% price increase since November 27, a single Bitcoin has reached a value above $40,000 for the first time since April 2022.
  • The Bitcoin price surged to its highest levels since April 2022, just before the broader cryptocurrency market downturn.
  • The recent rise in Bitcoin is supported by the expectation of widely anticipated spot Bitcoin ETFs, expected to be approved in the coming months.

Bitcoin price managed to reach the highest levels seen since April 2022 before the weekly close: 1 Bitcoin is 40K dollars!

Bitcoin Price Reaches $40,000

bitcoin-btc

According to current data, after approximately a 9% price increase since November 27, a single Bitcoin has reached a value above $40,000 for the first time since April 2022. The rest of the cryptocurrency market has also recovered in recent days, with the total market capitalization of cryptocurrencies increasing by 1% in the last day.

The Bitcoin price surge, just before the broader cryptocurrency market downturn, marks the first time it has been this high since April 2022. Bitcoin being near its peak for the past 20 months represents a 15% increase in the last 30 days, more than doubling its price since this time last year.

The recent surge in Bitcoin is supported by the expectation of widely anticipated spot Bitcoin ETFs being approved in the coming months. These ETFs are funds that trade in real-time at the current Bitcoin price, and according to analysts, the recent request for public opinion by the U.S. Securities and Exchange Commission (SEC) may indicate an accelerated timeline for SEC approval of a Bitcoin ETF.

Despite applications from major asset managers such as BlackRock, Fidelity, 21Shares & Ark Invest, Bitwise, VanEck, Wisdomtree, Invesco, Valkyrie, Global X, Hashdex, and Franklin Templeton, the SEC has not yet approved a Bitcoin ETF. Pando Asset, a Swiss asset manager, recently became the latest company seeking approval for a spot Bitcoin ETF, filing an S-1 form with the SEC.

Numerous companies have applied to operate ETFs, and the U.S. Securities and Exchange Commission (SEC) is currently in talks with some firms. It is known that BlackRock and Grayscale have frequent meetings with the SEC.

Altcoin market also sees movement

Bitcoin is not the only cryptocurrency experiencing a weekend surge. Today, Ethereum is trading above $2,200 for the first time since May 2022. While Solana’s price has risen to $64, XRP touched $0.626. Although there are not significant increases in altcoins, the strong surge in the Bitcoin price has been welcomed with enthusiasm throughout the entire crypto world.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?