Bitcoin’s trading range was firmly above $45,000, sending signals for the bullish crypto price levels to continue in the market for the next few days.
Positive predictions for Bitcoin grew louder in the crypto community recently, as BTC held its $45,000 price level. The bullish crypto price levels may sustain a full-blown rally soon. Meanwhile, market volatility in crypto has also grown in the last 24 hours. Both bulls and bears have targeted the $45,000 price mark to assert dominance. BTC almost rose to $45,800 on January 2, but traders started booking profits soon after.
On the other hand, reports claimed a few investment firms that filed for the spot Bitcoin ETFs have set their fees. It could hint at early approvals for the exchange-traded funds. Bitcoin’s latest prices have hit their highest levels in 21 months, which is also an extremely optimistic sign.
The majority of the crypto investors and traders are long on Bitcoin, which may help it hold its trading range longer. Moreover, as regulatory outcomes in multiple countries kick in for the crypto space, the sector could get more attractive for investors.
In the days leading up to the spot Bitcoin ETF approvals, BTC’s price may see more hikes. Market volatility could also increase gradually. Bitcoin’s weekly gains have hovered above 7%, while ETF is up by over 6% in the last seven days.
BTC/USD 1D price chart
Bitcoin is currently trading at around $45,100 on January 3, 2024, with BTC/USD trading lower by a margin of 0.1% in the last 24 hours. Bitcoin’s market cap was trading at around $886 billion.
BTC/USD is trading higher than its 20-day EMA (43,095.20), as BTC’s 24-hour volume was at around $31 billion. The crypto market cap decreased by around 0.32%, trading above $1.73 trillion. BTC’s year-to-date returns are above 7.76%.
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