Bitcoin (BTC) Breaches $40,000 Price Level Over Weekend

• Bitcoin is showing no signs of slowing down.
• Having successfully breached $39,000, Bitcoin continues to move with confidence. 
• With 40 days left to a potential spot ETF approval, market participants are brimmed with joy. 

Anticipation for Bitcoin spot ETF approvals is currently at unprecedented levels. Following a brief correction, the reigning crypto king has been steadily ascending, conquering various price levels as it moves toward a new yearly high.

Having successfully breached $39,000 on Saturday , Bitcoin sustained its momentum, confidently closing the weekend on a high note. As we gear up for the new business week, experts are buzzing with excitement.

BTC Taps $40K: What’s Next?

Bitcoin is having an exceptional quarter , currently sitting on an impressive 50% gain this quarter. On Saturday, Bitcoin successfully streamed past the $39,000 mark , charting a course beyond. It wasn’t long until it had surged past $40,000 as well, marking the first time since April 2022, right before the market crashed. 

Bitcoin’s recent performance aligns with the prevailing optimism and excitement surrounding the anticipated approval of a Bitcoin Spot ETF in the US . Several institutional giants, including Blackrock, Fidelity, and Grayscale, have filed applications, with experts suggesting a 90% chance of approval in early January.

Interestingly, Bitcoin wasn’t the only token to rise over the weekend. Ethereum, too, has surpassed $2,200 for the first time since May 2022.

As we count down the 40 days to a potential approval, influential figures in the crypto space are rallying for BTC to hit $45,000 soon. Given the market’s bullish structure, Bitcoin’s resilience, and the euphoria sweeping through, the token could maintain its momentum and continue its rally.

On the Flipside

• MicroStrategy’s Michael Saylor is currently enjoying $1.5 billion in profits from his BTC investments.
• The weekend rally resulted in liquidations exceeding $107 million.

Why This Matters

Bitcoin’s remarkable performance signals the onset of a potential bull market. The premier crypto is moving much akin to the 2021 bull run, as indicated by on-chain data. Such rallies hint at potentially exciting times and a promising trajectory for the crypto space. 

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