Bitcoin reached $47,000!

Leading cryptocurrency Bitcoin exceeded $47,000 as markets' expectations for ETF approval continued.

Leading cryptocurrency Bitcoin surpassed $47,000 as markets continue to wait for ETF approval.

Growing expectation that the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF has pushed the value of the asset to a level not reached since April 2022. BTC briefly managed to touch $47,200.

Many analysts and reporters, especially Bloomberg's ETF analysts, stated that they expect spot Bitcoin ETF approvals to be given on Wednesday, January 10.

The cryptocurrency community believes that if a potential spot Bitcoin ETF is approved, the asset would start a new rally.

At the time of writing, Bitcoin is traded at $47,116, according to Bitstamp data.

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