Bitcoin climbs above $45,000 for first time since April 2022
The HinduBitcoin rose above $45,000 on Tuesday for the first time since April 2022 as the world's biggest and best-known cryptocurrency started 2024 with a bang buoyed by optimism around possible approval of exchange-traded spot bitcoin funds. Investor focus has been squarely on whether the U.S. securities regulator will soon approve a spot bitcoin ETF, which would throw open the bitcoin market to millions more investors. The U.S. Securities and Exchange Commission has rejected multiple applications to launch spot bitcoin ETFs in recent years, arguing that the cryptocurrency market is vulnerable to manipulation. "The crypto market is set to experience notable growth this year, with key influencing factors being the influx of investment funds from spot ETFs, Bitcoin halving, and a more accommodative monetary policy both in the United States and worldwide," said Jupiter Zheng, partner of liquid funds at HashKey Capital.