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Bitcoin Spot ETF Anticipation Boosts BTC Price to Nearly $46K in Strong Start to 2024

The bitcoin (BTC) price started 2024 on a roll, adding more than 7% in 24 hours to approach $46,000, the highest level since April 2022, in a strong start to the new year. As has been the case for the past several weeks, anticipation that the U.S. Securities and Exchange Commission (SEC) will greenlight a number of spot bitcoin ETFs appears to be the catalyst for the move higher. A Reuters report over the weekend suggested the regulatory agency could begin notifying ETF sponsors as soon as Tuesday that their applications were to be approved. Traditional-finance heavyweights such as BlackRock and VanEck are among the 13 companies in the race.

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