Bitcoin ETF Frenzy: SEC's Approval Window Opens for Dozen Spot BTC ETFs
Bitcoin (BTC) surged close to $37,000, reaching its highest level since May 2022, as US buyers sustained the rally and speculation grew around a potential US Bitcoin spot price exchange-traded fund (ETF) approval. Analysts believe there is a 90% chance of spot Bitcoin ETF approvals by January 10, 2024, and the recent price action suggests that the market is anticipating a positive decision. The bullish sentiment is also reflected in the on-chain data, with signals from proprietary trading tools being invalidated due to the overnight gains. However, it is important to note that every investment and trading move involves risk, and readers should conduct their own research.