Bitcoin Breaks $45K, Speculation on $50K Break

The biggest cryptocurrency in the world by market value, Bitcoin (BTC), has crossed over $45,000 for the first time since the day spot ETFs started trading on January 11. 

As of the time of writing, Bitcoin has increased 4.9% in the previous day to $45,304, as per CoinMarket Cap. 

“Breaking $45,000 allows early investors who piled on the bitcoin ETF to be almost in the money, if we continue this ascent we may even see some profit taken and could trigger a reversal where the $42,000/$40,000 level may be tested,” stated Laurent Ksiss, a CEC Capital crypto ETP specialist.

Unlike Kssis, LMAX Digital stated in a morning note to investors that it believes Bitcoin will continue to rise, potentially hitting the $50,000 mark. “Technically speaking, bitcoin has broken out of a range and could be looking for a push to a fresh yearly high through $50,000.”

Following yesterday’s amendment to their joint spot ETH ETF filing by asset managers Ark Invest and 21Shares, ether (ETH) saw a 3% increase to hit a two-week high.

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2024-02-08 22:28