As of 4:00 PM ET, Bitcoin is up by just over 5% ($2,300) on the day at $47,590. The huge gains achieved today have propelled this week 11.62% higher, making it the biggest week for Bitcoin since October.
“Despite the initial ETF euphoria vanishing from market sentiment Bitcoin has held up rather well considering the $15,000 in gains that were largely fueled by its implications.
Bitcoin experienced 2 hour-long pumps that were followed by immediate crashes to $45,600 over the past week days. Both occurred following approval of the multiple spot Bitcoin ETFs, with decision deadlines set for January 10th.
With all eyes keenly focused on the U.S. Securities Exchange Commission awaiting on word of many Bitcoins’ spot ETF’s approval, the SEC’s official X (formerly Twitter) account posted that all the ETF’s up for consideration were approved. This news took the price of Bitcoin swiftly higher, gaining 2.37% in the five minutes immediately following the posting.
