Crypto Price Today: Bitcoin Surges Past $44,000 on ETF Anticipation; Solana, BNB gain Up To 17%
The global cryptocurrency market cap increased to $1.66 trillion, with Bitcoin reaching $44,000. This can be attributed to a meeting between Blackrock, Nasdaq, and the SEC regarding the Bitcoin ETF.
In Friday’s trade, major cryptocurrencies, including Bitcoin, Ethereum, Solana, BNB, XRP, Dogecoin, Cardano, Avalanche, Ton coin, and Tron, displayed mixed trading patterns, leaning slightly towards gains around 10:30 a.m.
According to a recent Coinbase report, the French market regulator, AMF, has granted Coinbase VASP registration in France. This registration enables Coinbase to provide a full suite of cryptocurrency services to their French users, the report said.
Bitcoin, the oldest and most valuable cryptocurrency, has surpassed $44,000. This surge is attributed to significant deliberations on Bitcoin exchange-traded funds (ETFs) involving major players such as BlackRock, Nasdaq, and the US Securities and Exchange Commission (SEC).The CEO of BuyUcoin, Shivam Thakral, emphasized that discussions among BlackRock, Nasdaq, and the SEC have sent positive signals to the market, contributing to the overall positive sentiment.
“The global cryptocurrency market cap increased to $1.66 trillion, with Bitcoin reaching $44,000. This can be attributed to a meeting between Blackrock, Nasdaq, and the SEC regarding the Bitcoin ETF”, he said
Meanwhile,Solana is notably leading in the altcoin rally, achieving a 16% increase in 24 hours and surpassing BNB to become the 4th largest crypto globally.
Solana’s impressive growth is underscored by its +18.6% surge, overtaking BNB and solidifying its position in the crypto market.
Currently trading around $93.9, SOL started the year at $9.96, and has marked an astounding 840% growth in 2023.
Bitcoin investors are feeling more confident due to recent positive trends and news, leading to an increase in its price. Argentina’s new government has announced that they plan to use Bitcoin for contracts, adding to the positive sentiment.
In December alone, Bitcoin has gone up by 16%, and in 2023, it has seen an impressive overall increase of 165%.
“The market is thriving with optimism, further fueled by Argentina’s official approval of Bitcoin as it’s currency,” said Edul Patel, CEO at Mudrex in a report by business standard
He also noted that El Salvador has opened its doors of citizenship to foreign Bitcoin investors, further contributing to the positive market sentiment.
On the technical side, Patel pointed out that Bitcoin encounters resistance at $44,300 and has support at $43,500. He expressed optimism that Bitcoin might soon reach the $48,000 level if the prevailing positive momentum in the market persists. As the cryptocurrency market enters the final week of 2023, it appears to be gathering momentum, setting the stage for a potentially robust start to 2024.
