Bitcoin Hovers At $45K; SEC Decision In Focus
By Laxmikant Khanvilkar
Leading virtual digital assets (VDA) have managed to hold near key levels as investors await announcement from the Securities Exchanges Commission (SEC) on the spot Bitcoin exchange-traded funds (ETFs) launch.
As per Reuters report, the agency is expected to begin notifying ETF sponsors very soon. That’s the biggest catalyst for the Bitcoin, Ethereum and other tokens, analysts have said.
Apparently, Bitcoin (BTC), the largest cryptocurrency by market capitalisation, surged towards $46,000 mark on Tuesday. It has retreated from that level but is still trading at $45,104, up 0.5%, highest since April 2022. The bitcoin rally has provided movement to Ethereum (ETH), the second largest cryptocurrency as well. The Vitalik Buterin pioneered blockchain token soared near $2,400 mark. It was recently changing hands at $2,361, down 1.2%.
Other large-cap tokens such as XRP, Solana, Cardano, Binance, etc followed the broader market trend.
Solana blockchain’s native token SOL is now posing a tough competition to ether and is trading at $107.
The global crypto market cap increased by 0.25% to $1.72 trillion in the last 24 hours. Simultaneously, the total crypto market volume rose 59.4% to $80.1 billion. Total volume in DeFi is currently $7.4 billion, and all stablecoins are $70.6 billion, representing 9.2% and 88.1%, respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 51.04%, up 0.3% over the day.
The IC15 index, the barometer of the top fifteen tokens, eased 0.13% to 57,535.
Meanwhile, traders from the decentralized prediction platform Polymarket are confident spot BTC ETFs going live in the U.S. within two weeks. The probability of Bitcoin ETF approval by Jan 15 stands at 89%, which has grown significantly over a month ago level of 50%.
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