Bitcoin Surges Above $46,000; Helium, Bonk Among Top Gainers

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $45,000 level on Tuesday. Ethereum (CRYPTO: ETH) also moved higher, trading above the key $2,200 mark this morning.

Timeline of Bonk1, Bitcoin, Helium

Today's surge in the crypto market, with Bitcoin (BTC) hovering around the $47,000 mark, has captivated the attention of investors, enthusiasts, and analysts alike. Several interconnected factors contribute to the volatility and subsequent surges in the crypto market, and today's rally is no exception.

Bitcoin is having a striking start to the year. Bitfinex, in its latest report, warns about the volatility experienced by the flagship cryptocurrency and how certain recent events influenced its behavior in the market.

On Jan. 8, 2024, a New Scientist article sparked debate by questioning whether nations ought to consider banning bitcoin due to its environmental footprint. The editorial has drawn significant criticism from numerous bitcoin supporters.

BlackRock Inc (NYSE: BLK) and VanEck updated their SEC filings for spot Bitcoin (CRYPTO: BTC) ETFs on Tuesday, incorporating changes from SEC feedback on their S-1 filings. What Happened: These adjustments aim to minimize shareholder risks in case of insolvency and prevent conflicts of interest for the ETF's authorized participants.

In a significant development in the crypto world, Valkyrie co-founder Steven McClurg expressed confidence in an interview with Fortune, predicting the SEC's approval of their Spot Bitcoin ETF on Wednesday. With anticipation reaching new heights, McClurg also hinted at the possibility of trading commencing as early as Thursday.

The race to potentially launch a spot Bitcoin Exchange Traded Fund (ETF) product in the United States is not losing steam as BlackRock has just filed a newly amended S-1 to incorporate the comment from the Securities and Exchange Commission (SEC) over its fee filing on Jan. 8.

As we step into 2024, Bitcoin opens the year with a remarkable price of $47,000, signaling a potential shift in the market dynamics. This new year brings with it a historic moment for Bitcoin – its first-ever ‘Golden Cross' involving the 50-week and 200-week moving averages (MAs).

Grayscale's Bitcoin Trust experienced a surge in trading activity on Jan. 8, coinciding with a significant reduction in the fund's discount to 6.82%, marking its lowest point since April 2021. This increased activity was driven by market expectations surrounding the potential approval of a spot exchange-traded fund (ETF).

The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 9, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

In a significant development, BlackRock and VanEck have filed amended S-1 forms for their respective Bitcoin Spot ETFs applications. This move is in response to the final comments from the Securities and Exchange Commission (SEC). Yesterday, the Securities and Exchange Commission (SEC) provided feedback to several potential issuers following their recent form submissions.