{"id":9725,"date":"2024-01-11T17:42:14","date_gmt":"2024-01-11T15:42:14","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-price-surpasses-48000-amid-etf-launch\/"},"modified":"2024-01-11T17:42:14","modified_gmt":"2024-01-11T15:42:14","slug":"bitcoin-price-surpasses-48000-amid-etf-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-surpasses-48000-amid-etf-launch\/","title":{"rendered":"Bitcoin Price Surpasses $48,000 Amid ETF Launch"},"content":{"rendered":"<p>Amid the launch of spot Bitcoin ETFs on US stock exchanges, the price of the leading cryptocurrency has surpassed the $48,000 mark.<\/p>\n<p><!--more--><\/p>\n<p>The rapid price increase is accompanied by a surge in trading volumes.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"410\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/btcusdt-12-1024x410.png\" alt=\"btcusdt-12\" class=\"wp-image-223706\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/btcusdt-12-1024x410.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/btcusdt-12-300x120.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/btcusdt-12-768x308.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/btcusdt-12.png 1046w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/x\/PFvbimSq\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, the leading cryptocurrency is trading around $48,700, up 7.5% over the past 24 hours, according to <a href=\"https:\/\/www.coingecko.com\/\" title=\"CoinGecko\">CoinGecko<\/a>. <\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">January 11, 2024 | 18:13<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Shortly after reaching a local high of $49,000, the price of digital gold corrected to the $46,000 level.  <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"410\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/correction-1024x410.png\" alt=\"correction\" class=\"wp-image-223730\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/correction-1024x410.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/correction-300x120.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/correction-768x308.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/correction.png 1046w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/x\/hBFlMHYJ\" title=\"TradingView\">TradingView<\/a>. <\/figcaption><\/figure>\n<\/div>\n<p>On the eve of the debut launch on Nasdaq, during the pre-market session, the price of BlackRock&#8217;s spot Bitcoin ETF (IBIT) exceeded its <span data-descr=\"net asset value\" class=\"old_tooltip\">NAV<\/span> by 25.6%.<\/p>\n<p>Bloomberg analyst James Seyffart noted that 30 minutes after the start, trading volumes for the new products exceeded $1.2 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Spot <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> ETFs crossed $1.2 billion in trading volume in first 30 min of trading!<\/p>\n<p>It&#8217;s not fancy but here&#8217;s the Cointucky Derby as im watching it. <a href=\"https:\/\/twitter.com\/vaneck_us?ref_src=twsrc%5Etfw\">@vaneck_us<\/a>&#8216;s <a href=\"https:\/\/twitter.com\/search?q=%24HODL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$HODL<\/a> got a later start than the others but <a href=\"https:\/\/twitter.com\/Grayscale?ref_src=twsrc%5Etfw\">@Grayscale<\/a>&#8216;s <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a> and <a href=\"https:\/\/twitter.com\/BlackRock?ref_src=twsrc%5Etfw\">@BlackRock<\/a>&#8216;s <a href=\"https:\/\/twitter.com\/search?q=%24IBIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$IBIT<\/a> are HOT out of the gate. <a href=\"https:\/\/t.co\/FKYev3JSrq\">pic.twitter.com\/FKYev3JSrq<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1745461010973245786?ref_src=twsrc%5Etfw\">January 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The surge in the price of digital gold positively impacted altcoin prices. Ethereum, Solana, XRP, and Avalanche outpaced the crypto market leader in growth rates over the past day.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"628\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/gecko-5-1024x628.png\" alt=\"gecko-5\" class=\"wp-image-223715\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/gecko-5-1024x628.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/gecko-5-300x184.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/gecko-5-768x471.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/gecko-5.png 1281w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top 10 crypto assets by market capitalization. Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>On the evening of January 10, the US Securities and Exchange Commission announced the approval of 11 applications for spot exchange-traded funds based on the leading cryptocurrency.<\/p>\n<p>The approved issuers include Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity, and Franklin Templeton.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid the launch of spot Bitcoin ETFs on US stock exchanges, the price of the leading cryptocurrency has surpassed the $48,000 mark.<\/p>\n","protected":false},"author":1,"featured_media":9724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-9725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=9725"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/9724"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=9725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=9725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=9725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}