Crypto News – Since the introduction of spot Bitcoin ETFs in the US last month, the price of Bitcoin, the most popular cryptocurrency in the world, has risen past $46,000.
Highest BTC Price Since ETF: Bitcoin Hits $46.000 Today
According to data from CoinMarketCap, as of the time of writing, the price of Bitcoin is $46,829, up 4.03% over the previous day. Investor trust in the cryptocurrency market has increased as a result of the recent boom.
Conversely, worries at first focused on the leveraged traders’ contribution to the upward trend, since open interest in Bitcoin rose by almost $1 billion in less than a day. Even still, the market seems ready to make up ground, especially since Bitcoin dropped from its two-year high of $49,000 on January 11.
Investors Generally Favorable to Price Increase
Prominent traders like Jelle have provided commentary on the fluctuations in the price of Bitcoin, stressing the significance of crossing the $45,000 barrier and demonstrating the currency’s resistance to aggressive short positions.
Crypto ETP expert Laurent Ksiss of CEC Capital said that breaking above $45,000 would make early investors consider selling, which might lead to a pullback into the $42,000–$40,000 region. LMAX Digital, though, is still upbeat.
Technically speaking, Bitcoin has broken out of a range and could be looking for a push to a fresh yearly high through $50,000.LMAX Digital