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In a spectacular beginning to 2024, Bitcoin has surged past the $45,000 threshold, marking a noteworthy achievement for the world’s leading cryptocurrency. This surge coincides with increasing optimism regarding the possible approval of exchange-traded spot Bitcoin funds. This development has the potential to significantly impact the crypto market.

Bitcoin, attained a 21-month pinnacle at $45,488, demonstrating a notable 154% increase in the previous year. This surge represents its most robust performance since 2020, emphasizing the resilience and appeal of BTC despite its price fluctuations. Although BTC is presently valued at $45,344, it remains considerably distant from its record high of $69,000 in November 2021.

The current Bitcoin Fear and Greed Index, standing at 71 (indicating Greed), mirrors the optimistic sentiment and increasing confidence within the cryptocurrency market. As BTC continues to captivate investors’ attention, analysts are contemplating whether the crypto will surpass the $50,000 mark before the eagerly anticipated approval of Bitcoin ETFs.

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