"Bitcoin Surges Past $45K in New Year Rally, Eyeing $48K Amid ETF Optimism"
Bitcoin's price soared past $45,000 for the first time since April 2022, continuing a significant rally into 2024. The surge is partly driven by anticipation of the U.S. potentially approving the first bitcoin exchange-traded fund (ETF), which would make the cryptocurrency more accessible to institutional investors. Additionally, the upcoming "halving" event in 2024, which cuts the reward for mining bitcoin in half, is expected to reduce supply and has historically led to price increases. Other cryptocurrencies like Ether and Solana also experienced substantial gains during this rally.