{"id":224451,"date":"2024-01-06T00:03:15","date_gmt":"2024-01-05T18:33:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/where-will-bitcoin-price-head-in-january-2024-50k-or-35k-crypto-news\/"},"modified":"2024-01-06T00:03:19","modified_gmt":"2024-01-05T18:33:19","slug":"where-will-bitcoin-price-head-in-january-2024-50k-or-35k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/where-will-bitcoin-price-head-in-january-2024-50k-or-35k-crypto-news\/","title":{"rendered":"Where Will Bitcoin Price Head in January 2024, $50k or $35k? – Crypto News"},"content":{"rendered":"

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\nBitcoin Price: The increased rumors on spot Bitcoin ETF approval on social media continue to waver the sentiment of the market participants.\t\t\t\t<\/p>\n

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The crypto market has been highly volatile since the onset of 2024 mainly wavering to the market sentiment toward spot Bitcoin ETFs. On January 3rd, a majority of major cryptocurrencies witnessed a significant sell-off as Matrixport recently emphasized in a report that the U.S. Securities and Exchange Commission (SEC) might deny the approval of spot Bitcoin Exchange-Traded Funds (ETFs)<\/a>.<\/span><\/p>\n

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The leading cryptocurrency Bitcoin(BTC) currently trades at $43650 with an intraday loss of 1.5%<\/span><\/p>\n

Rumors on Spot Bitcoin ETF Approval on Friday<\/b><\/h2>\n

The cryptocurrency community is abuzz with speculation regarding the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Social media platforms, particularly X(Formerly Twitter), have been a hotbed for discussions and rumors about this possibility.<\/span><\/p>\n

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Despite this enthusiasm, several analysts and industry experts have cautioned against too much optimism. According to a recent post by Eric Balchunas,<\/a> a Senior Bloomberg ETF analyst, the SEC is currently providing final comments. Following this, issuers are expected to submit their final 19b-4 and S-1 forms<\/a>, essential for the ETF\u2019s approval. While this development signals progress, Balchunas clarifies that there\u2019s no official approval yet.<\/span><\/p>\n

Can Bitcoin Price Resume Recovery?<\/b><\/h2>\n