Bitcoin Breaks $45,000 Mark, Approaching Two-Year High

Bitcoin’s price surged past $45,000 for the first time in almost two years, reaching levels higher than any in 2023. The rapid climb, exceeding 6% in the last 24 hours and 170% over the past year, is attributed to anticipation of a potential approval of a spot Bitcoin exchange-traded fund (ETF) by the SEC. The last time Bitcoin surpassed $45,000 was in April 2022. Analysts, like Gabor Gurbacs of VanEck, foresee the early days of a spot Bitcoin ETF as potentially underwhelming but anticipate significant inflows in the coming years, potentially reaching trillions of dollars. (Source: Coinmarketcap)