Bitcoin surpasses $47,000 for first time since late 2021
The price of bitcoin broke past $47,000 at around 2:15 p.m. ET on Jan. 8.Bitcoin’s price hasn’t been that high since December 2021, The Block’s price data show.
The price of Bitcoin BTC +5.92% surpassed a significant level as the race for a spot exchange-traded fund approval heats up.
The world's most popular cryptocurrency by market capitalization broke past $47,000 at around 2:15 p.m. ET. Bitcoin now trades at $47,109 as of 2:20 p.m. ET — a 6.85% 24-hour increase — The Block's bitcoin price data show.
The price of bitcoin surpassed $47,000. Source: The Block
Bitcoin surpassed $45,000 this morning at 8:00 a.m. ET, correlating with $6 million in shorts, The Block previously reported.
Spot bitcoin ETF bullishness
As the first-ever spot bitcoin ETF gears up for a potential green light , the effect of a new exchange-traded fund could drastically impact the cryptocurrency market. Bitcoin and other crypto markets saw renewed interest as a spot bitcoin ETF approval became increasingly more expected toward the end of last year, with crypto exchange volume breaking $1 trillion for the first time since late 2022.
A spot bitcoin ETF could cause up to $100 billion in new inflows to occur throughout 2024, leading to a possible future of bitcoin's price reaching $200,000 by the end of the year, Standard Chartered said earlier today.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dogecoin News Today: Shiba Inu's Bearish Crossroads: Can It Break Free or Fall Deeper?
- Shiba Inu (SHIB) faces a bearish outlook as its price drops 73% from $0.00003330 to $0.00001215, forming a symmetrical triangle pattern. - Technical indicators confirm sustained bearish momentum, with SHIB below the Ichimoku cloud and key moving averages failing to provide support. - Fundamental challenges include declining trading volume ($288M), weak ecosystem growth, and a massive 589 trillion-token supply suppressing demand. - SHIB lags behind Dogecoin in brand strength and utility, while investors s
Resilience in Volatility: Why Enduring Dumps is Key to Capturing Bitcoin’s Life-Changing Pumps
- Bitcoin's history shows asymmetric recovery patterns, rebounding from major crashes (e.g., 2011, 2014, 2022) to new highs within years. - Long-term "hodling" strategy relies on psychological resilience, emotional discipline, and Bitcoin's scarcity narrative to weather volatility. - Institutional adoption (e.g., 2024 ETF approvals) and regulatory clarity have stabilized Bitcoin's volatility while maintaining 24/7 trading dynamics. - Behavioral biases like overconfidence and herding persist, but risk manag
Sharps Technology’s Strategic Pivot to Solana Treasury: A High-Conviction On-Ramp for Institutional Crypto Exposure
- Sharps Technology raised $400M via private placement to build the largest institutional-grade Solana (SOL) treasury, bridging traditional finance and blockchain innovation. - Leveraging Solana’s 7% staking yields and institutional flywheel, Sharps offers equity investors exposure to a rapidly growing blockchain network with Ethereum-like adoption but superior scalability. - Post-announcement, Sharps’ stock surged 70%, reflecting confidence in Solana’s institutional traction and Sharps’ dual-income model
Assessing the Long-Term Viability of Bitcoin Corporate Treasuries in a Crowded Market
- Corporate Bitcoin treasuries surged to $110B in 2025 as ETF approvals and SAB 121 repeal drove institutional adoption, with 961,700 BTC held across 180+ companies. - Harvard and BlackRock's IBIT ETF exemplify Bitcoin's role as inflation hedge, while custody tech and macro trends like Fed rate cuts boosted demand. - Strategy Inc.'s mNAV ratio dropped from 3.4 to 1.57 amid 40% equity dilution and $37.8B deployment plans, exposing risks in Bitcoin-centric corporate models. - Market saturation and ETF compet
Trending news
MoreCrypto prices
More
