Bitcoin has been predicted to continue a bullish run in anticipation of the possible spot Bitcoin ETF approval.
Analysts also believe that the journey to the new price height may not be a smooth one as sellers are prepared to reject any upward move.
Bitcoin (BTC) is showing a massive sign of bullish continuation following the recent reports of a possible approval of the spot Bitcoin Exchange-Traded Fund (ETF) in January next year. According to the latest market data, the asset has surged by 1% in the last 24 hours to trade at $44,090.30.
With a bullish market sentiment, Bitcoin currently has a score of 76/100. Commenting on the spot-based ETFs, Bloomberg ETF analysts James Seyffart and Eric Balchunas disclosed that there is a 90 percent chance of the US Securities and Exchange Commission approving a spot Bitcoin ETF by January 10. Seyffart explained that it could take weeks or months for an ETF to be launched after approval.
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