Bitcoin price is up today as traders’ bullish optimism over a potential spot ETF approval sends BTC over $45,000.
Bitcoin (BTC) price is up today, topping over $45,250, before retracting slightly and hovering around the key $45,000 level. The rally highlights traders’ continued bullish bias for Bitcoin, which seeks a continuation of a positive 4-month price trend.
Let’s look into the reasons why Bitcoin price is up today.
Despite a bevy of macro headwinds, Bitcoin price continues to push higher, with volatility and open interest increasing. On Jan. 8, all spot Bitcoin ETF applicants officially filed the final step in the process. Now the Securities and Exchange Commission (SEC) is free to potentially approve the spot Bitcoin ETFs.
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