Cryptocurrency Markets Surge as ETF Hopes Rise

The leading cryptocurrency surpassed the $42,000 mark again approximately two hours before the daily close, pushing its annual peak higher. Just a few minutes ago, the price reached $42,333, and we may see it surpass $42,500 in the coming minutes. The rise, spurred by the BlackRock news, had already been signaled.

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A few minutes ago, we announced a last-minute S-1 update in the Bitwise ETF application and said that more would follow. Bloomberg experts indicated that file updates are a sign of moving closer to ETF approval. The SEC is now setting aside its negative approach to cryptocurrencies and starting to engage with potential issuers.

BlackRock has also updated its S-1 filing for a spot Bitcoin ETF application. Investors hoping for approval by January 10 are growing more optimistic with such movements. Of course, we also see the price of BTC rising as a result. We had already mentioned in November that December could be poised for significant surges for these reasons.

While cryptocurrency markets have been moving positively within expectations for nearly three months, major surges for altcoins could be starting soon.

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