#BitcoinETF #ETFs #Bitcoin

BITCOIN, before at an important moment: because the price can "fly" next week.

The cryptocurrency market received this Saturday without major changes, after having spent the last few days in a tense upswing that affected the price of Bitcoin.

The volatility of the world's main cryptocurrency was such that during the week it rose to almost $46,000, its highest level since April 2022, and then moderated around $43,500. This was due to the possibility that the SEC, the United States securities and exchange authority, would approve several managers to create exchange-traded funds (ETFs) linked to Bitcoin.

The approval of the Bitcoin spot ETF was expected last week, which motivated both the sudden enthusiasm and investor discouragement that the currency's price showed. However, now market versions indicate that the new financial instrument could be approved next Wednesday, January 10. If this happens, it would mean an important legitimization for BTC and the entire world of digital currencies, which could be reflected in a significant rise in prices.

So much so, that an analysis by the Bitget Exchange states that, if the Bitcoin ETF is confirmed, the cryptocurrency could reach a price of US$100,000 this year.

On the other hand, a decision by the SEC against Bitcoin ETFs could be - the market fears - a serious blow to the credibility of the cryptocurrency.

In this context, the global capitalization of the crypto market fell 1.1% in the last 24 hours, bringing its approximate valuation to 1.72 billion.