Bitcoin is trading around $47,000, March 2022 highs, awaiting the US SEC.

MADRID, Jan. 9 (-) –

The price of bitcoin, the best-known and most valuable cryptocurrency, was trading this Tuesday afternoon around $47,000 (42,980 euros), unprecedented highs since the end of March 2022, due to the expectation of the approval tomorrow of a bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC), as well as the anticipated cycle change in monetary policy of interest rate cuts.

In this way, the price of bitcoin rose 6.2% since the beginning of this week to reach $47,000, the highest since March 2022, before the problems in May of that same year in the Luna token, linked to the ‘stablecoin’ UST, of the Terra protocol, triggered what was known as ‘crypto winter’, with a succession of bankruptcies and interventions, which culminated in November 2022 with the bankruptcy of FTX.

Thus, after having achieved a comeback in 2023 in which the digital asset more than doubled (specifically, it rose 174%), in the nine days of 2024, bitcoin accumulates a revaluation of close to 10%.

A report by Julius Baer noted this day that “all eyes are on Bitcoin, which is flirting with $47,000 amid intense speculation about the approval of exchange-traded funds (ETFs) in the United States,” whose decision final will be known tomorrow.

For the firm, “a delay or rejection by the SEC remains a risk” that “could trigger a strong correction.” However, they share the opinion [del mercado] that it will most likely be approved.

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