Bitcoin Starts the New Year Rising Past $45K, Highest Level Since April 2022

The price of bitcoin (BTC) soared more than 6% on the first day of the new year, as the leading cryptocurrency blew past $45,000 for the first time since early April 2022.

As has been the case for the past several weeks, anticipation that the U.S. Securities and Exchange Commission (SEC) will green light the launch of a number of spot bitcoin ETFs appears to be the catalyst for the move higher. A Reuters report over the weekend suggested the regulatory agency could begin notifying ETF sponsors as soon as Tuesday that their applications were to be approved.

In recent trading, the price of BTC was at $45,135, up 6.35%, up 5.6% over the last 24 hours. Broader crypto markets are on the move higher as well, with ether (ETH) ahead by 4% and solana (SOL) and avalanche (AVAX) up by 9%.