Enthusiasm is quietly building around bitcoin as risk trades improve and interest rates fall. Liquidity is improving and the industry appears to have cleaned up following the fines and Binance and the collapse at FTX.
Bitcoin is up $792 to $39,577, which is the highest since April 2022. It appears to be breaking out after weeks of consolidating near $36,000.
Bitcoin weekly
The major catalyst that bitcoin bulls are watching is for a US ETF approval, which looks to be a foregone conclusion. All indications are that it will be approved, with only the timeline in dispute. Recent reporting highlights a window opening up for approvals in the first week of January.
Until it’s approved, I don’t see any reasons…
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