Bitcoin is trading at over $44,100, up 2.18% in the last 24 hours

With the clock ticking down to the expected approval deadline, investors worldwide are eagerly awaiting the Securities and Exchange Commission’s (SEC) decision on spot Bitcoin ETFs.

The outcome of this decision will have far-reaching consequences for Bitcoin and the broader crypto market.

During a recent Bloomberg TV interview, Michael Saylor, executive chairman of MicroStrategy, emphasized the significance of the impending spot Bitcoin ETFs.

Saylor boldly predicted that this would be the “biggest on Wall Street” development in the last 30 years. He went into greater detail about the potential impact, emphasizing that the introduction of a spot Bitcoin ETF would serve as a gateway for institutional and individual investors.

The hype surrounding the launch of a Bitcoin ETF has reached a fever pitch, with the announcement expected within the next three weeks.

Analysts predict that the SEC’s decision will be announced at the market close on January 5th or between January 8th and 10th, 2024.

According to CoinMarketCap data, Bitcoin is currently trading at over $44,100, representing a 2.18% increase in the last 24 hours.

Furthermore, the trading volume has increased by 40.97%. On December 18, Bitcoin found support at the $40,600 level, triggering a new upward rally in anticipation of the SEC’s decision.

Investors around the world are keeping a close eye on these developments, recognizing their potential impact on the crypto market.