Bitcoin breaks through $45,000

For the first time in nearly two years, Bitcoin is back above $45,000. Here are the reasons for the price increase in the new year.

On the night of January 1 to 2, the number one cryptocurrency rose an impressive seven percent and is trading at $45,179 at the time of writing. The last time BTC was this high was a little less than 20 months ago, on April 5, 2022.

Ethereum and other altcoins follow the cryptocurrency. Growing 4.35 percent in the past 24 hours, ETH is trading at $2,377.

Reason for the green numbers: Speculation around the Bitcoin Spot ETF. The crypto industry has been waiting for a decision from the U.S. Securities and Exchange Commission (SEC) for weeks.

Many market observers expect approval on Jan. 10. According to Reuters however, the ETF could be approved as early as today or tomorrow.

According to some users on X, the price increase also due to the activities of institutional investors. On the options exchange CME, BTC futures are already trading at more than $46,000.

Driven by the price explosion in recent months - BTC rose 170 percent in a year - the Fear & Greed Index stands at 71.