Bitcoin (BTC), the largest cryptocurrency globally in terms of market value, has surpassed the $45,000 threshold, marking its highest point since the initiation of spot ETF trading on January 11. As of now, BTC has seen a 4.9% increase in the last 24 hours, reaching $45,034, slightly outpacing the 4.4% gain observed in the broader CoinDesk 20 Index.
According to Laurent Ksiss, a crypto ETP specialist at CEC Capital, breaking the $45,000 level puts early investors in Bitcoin ETFs nearly in a profitable position. However, Kssis suggests that continued ascent might prompt some investors to take profits, potentially triggering a reversal and testing the $42,000 to $40,000 range.
In contrast, LMAX Digital, in a morning note to investors, expressed the expectation of Bitcoin's further ascent, potentially reaching $50,000. The note highlighted the technical breakout of Bitcoin from a range, hinting at a possible push towards a new yearly high beyond $50,000.
Ether (ETH) has also experienced positive movement, with a 3% increase, reaching a two-week high. This follows amendments made by asset managers Ark Invest and 21Shares to their joint spot ETH ETF filing.