marking an optimistic start to the New Year. The surge is attributed to the hopeful prospects of licensing exchange-traded spot bitcoin funds. This surge follows Bitcoin’s impressive performance in the past year, boasting a 156% gain and reaching a 21-month high of $45,532.
Despite this surge, Bitcoin remains below its record high of $69,000 achieved in November 2021, currently standing at $45,318 with a 2.5% increase. Ether, the token associated with the Ethereum blockchain network, also sees positive movement, registering a 1.45% increase to $2,386 on Tuesday. In 2023, Ether had risen by 91%.
Investors are closely monitoring the possibility of the U.S. securities regulator authorizing a spot bitcoin ETF, which could attract significant investments, potentially unlocking the bitcoin market for millions of new investors. This regulatory development remains a key concern among market participants.