Crypto Price Prediction January 4: BTC, APT, BEAM

Crypto Price Prediction January 4: The crypto market is generally and gradually easing into the New Year bullish outlook after encountering extreme volatility on Wednesday. Bitcoin price retreated, pulling the entire market down with it as holders sold in reaction to a report by Matrixport alleging that the Securities and Exchange Commission (SEC) will not

Timeline of Aptos, Onbeam, Bitcoin

A recent report revealed a significant gap between advisor expectations and market analysts' predictions regarding the approval of a spot Bitcoin ETF (exchange-traded fund) in 2024.

Following a $600 million crypto market crash, many leading altcoins hit their monthly lows. However, skepticism over Matrixport's report and the SEC's recent talks with stock exchanges about ETF launches brought a market rebound. As a result, Aptos significantly recovered, regaining its pre-crash value completely.

A recent development has cast a shadow of doubt over the imminent approval of the pending Spot Bitcoin ETF applications by the Securities and Exchange Commission (SEC). In line with this, a legal expert has hinted at what could happen next if the SEC were to reject these applications.

As the world ushered in the new year, Bitcoin, the largest cryptocurrency by market capitalization, displayed resilience, maintaining a price above $42,000. At press time, the cryptocurrency was trading at $44,089 after surging by around 4% over the past 24 hours.

At the time of writing, Bitcoin is trading at $43,260, up 5.40% in the last 24 hours. If the price manages to go above $43,280 level, then it will likely test $43,510 resistance level.

Recent data shared by blockchain analyst @lookonchain reveals that a crypto trader moved a significant amount of Bitcoin to Binance and sold it just before the price of Bitcoin experienced a sharp decline. Bitcoin Trader's $140 Million Profit Amid Market Volatility A cryptocurrency trader managed a significant move, converting a Bitcoin chunk worth a staggering $140 million.

The crypto industry is almost reaching the pinnacle of the optimism building towards the approval of spot Bitcoin ETFs. Although this widespread hype sustained the Bitcoin price rally since October to highs above $45,000 in January 2024, BTC was hit by sudden volatility on Wednesday leading to a sharp dive through liquidity at $40,000.

Two hopeful ETF candidates, Grayscale and Fidelity, have filed their form 8-A with the U.S. Securities and Exchange Commission (SEC), marking significant steps forward in the ongoing efforts to establish a spot Bitcoin ETF. These filings are crucial as they signify the registration necessary for issuers to trade on an exchange upon receiving approval.

Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, recently proposed an intriguing perspective on the ongoing debate between Bitcoin and Gold, suggesting that gold might outshine Bitcoin in 2024, citing the uncertainties surrounding the potential launch of Bitcoin ETFs as a game-changer. McGlone's Insight: Bitcoin ETF Influence Mike McGlone's comments bring attention to the potential

Picture this: Bitcoin, the unruly pioneer of the crypto realm, performing a daring high-wire act, only to find itself plummeting faster than a snowball at the start of January 2024.