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Bitcoin (BTC) kicked off the new year with a bang, surging over 6% and surpassing the $45,000 mark for the first time since early April 2022.
Speculation about the potential approval of several spot bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) has been driving this recent rally. A report from Reuters suggested that the SEC could start notifying ETF sponsors of their approval as early as Tuesday.
At the time of writing, BTC was trading at $45,135, representing a 6.35% increase in the last 24 hours. The broader crypto market is also experiencing gains, with ether (ETH) up by 4% and solana (SOL) and avalanche (AVAX) both seeing a 9% increase.