{"id":573932,"date":"2024-02-08T07:30:27","date_gmt":"2024-02-08T07:30:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=573932"},"modified":"2024-02-08T06:54:09","modified_gmt":"2024-02-08T06:54:09","slug":"bitcoin-nears-45000-level-in-historic-price-surge-following-spot-etf-debut","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-nears-45000-level-in-historic-price-surge-following-spot-etf-debut\/","title":{"rendered":"Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut"},"content":{"rendered":"<p data-sourcepos=\"5:1-5:93\">Bitcoin (BTC) shook off recent bearish whispers and roared back to life on Wednesday, <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">clawing its way past $44,000<\/a> and marking a four-week high as the top crypto asset approaches the vaunted $45K level. This bullish charge was fueled by a potent cocktail of factors, from resurgent accumulation by major investors to record highs in US equity markets and a surprise regulatory shift from Thailand.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/from-outage-to-recovery-solana-price-bounces-back-with-network-restart-in-full-swing\/\" target=\"_blank\" rel=\"noopener \">From Outage To Recovery: Solana Breaches $100 Barrier With Network Restart In Full Swing<\/a><\/div>\n<h2 data-sourcepos=\"7:1-7:361\"><strong>Bitcoin Surges Amid Whale Activity<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:361\">The day began with Bitcoin hovering around $42,700, but it quickly gained momentum, reaching a peak of $44,300 \u2013 its loftiest perch since January 12th. This 2.5% surge in 24 hours outpaced the broader cryptocurrency market&#8217;s 1.6% gain, showcasing Bitcoin&#8217;s renewed vigor. While Ether (ETH) and Cardano (ADA) saw modest increases, Bitcoin clearly stole the show.<\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"9:1-9:14\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-573933\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/a_6316d7.png?resize=644%2C406\" alt=\"\" width=\"644\" height=\"406\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/a_6316d7.png?w=644 644w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/a_6316d7.png?w=460 460w\" sizes=\"(max-width: 644px) 100vw, 644px\">Source: CryptoQuant<\/pre>\n<p data-sourcepos=\"9:1-9:14\">What sparked this fiery comeback? Analysts at Bitfinex had initially pointed to<a href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/miner-flows\/miner-netflow-total?miner=all_miner&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=column\" target=\"_blank\" rel=\"noopener nofollow\"> heightened miner selling<\/a> as a potential culprit for recent price dips. However, the narrative flipped as whales, those enigmatic holders of vast Bitcoin stashes, began gobbling up the digital gold.<\/p>\n<p data-sourcepos=\"9:1-9:14\">Crypto sleuth Ali Martinez, analyzing data from Glassnode, revealed a multi-month high of 73 wallets holding over 1,000 Bitcoins (roughly $44 million each). This whale activity signaled a renewed vote of confidence in Bitcoin&#8217;s long-term potential.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> whales are accumulating more <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a>! Around 73 new whales now hold 1,000 <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#BTC<\/a> or more, marking a 3.66% increase in two weeks. <a href=\"https:\/\/t.co\/VFArJYTQZl\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/VFArJYTQZl<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/41247023?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">February 7, 2024<\/a><\/p><\/blockquote>\n<p data-sourcepos=\"11:1-11:343\">Adding fuel to the fire were record-breaking performances by US stock indices. The S&amp;P 500, Dow Jones, and Nasdaq Composite all flirted with all-time highs, creating a positive ripple effect that buoyed riskier assets like Bitcoin. This synchronized surge suggested a broader investor appetite for risk, emboldening cryptocurrency bulls.<\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"11:1-11:343\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/UqaLQcUz\/\" width=\"1274\" height=\"522\">Bitcoin currently trading at $44,504 on the daily chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ZUMCtHpo\/?symbol=CRYPTOCAP:XRP\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2 data-sourcepos=\"13:1-13:45\"><strong>Thailand: VAT Elimination Spurs Crypto Adoption<\/strong><\/h2>\n<p data-sourcepos=\"13:1-13:45\">Meanwhile, the Finance Ministry of Thailand announced the elimination of the 7% value-added tax (VAT) on Bitcoin and cryptocurrency trading.<\/p>\n<p data-sourcepos=\"15:1-15:573\">This groundbreaking decision positions Thailand as a frontrunner in digital asset adoption, aiming to attract investment and establish the country as a regional hub for innovation.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/cardano-price-stagnant-at-0-48-but-charts-point-to-potential-upswing\/\" target=\"_blank\" rel=\"noopener \">Cardano Price Stagnant At $0.48, But Charts Point To Potential Upswing<\/a><\/div>\n<p data-sourcepos=\"15:1-15:573\">This bold regulatory shift injected a powerful dose of optimism into the already bullish trend, showcasing government recognition of the potential of cryptocurrencies.<\/p>\n<p data-sourcepos=\"17:1-17:505\">As Bitcoin navigates its next move, technical indicators and the supportive trend of the Simple Moving Average suggest continued upside potential. However, the cryptocurrency market remains inherently volatile, and investors should exercise caution.<\/p>\n<p data-sourcepos=\"17:1-17:505\">Nonetheless, Wednesday&#8217;s surge, fueled by diverse factors, paints a promising picture for Bitcoin&#8217;s future, leaving many wondering if this is the beginning of another bull run. Only time will tell, but one thing is certain: the Bitcoin bulls are back, and they&#8217;re roaring loud.<\/p>\n<p data-sourcepos=\"17:1-17:505\"><em>Featured image from Adobe Stock, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) shook off recent bearish whispers and roared back to life on Wednesday, clawing its way past $44,000 and marking a four-week high as the top crypto asset approaches the vaunted $45K level. This bullish charge was fueled by a potent cocktail of factors, from resurgent accumulation by major investors to record highs in US equity markets and a surprise regulatory shift from Thailand. Related Reading: From Outage To Recovery: Solana Breaches $100 Barrier With Network Restart In Full Swing Bitcoin Surges Amid Whale Activity The day began with Bitcoin hovering around $42,700, but it quickly gained momentum, reaching a peak of $44,300 \u2013 its loftiest perch since January 12th. This 2.5% surge in 24 hours outpaced the broader cryptocurrency market&#8217;s 1.6% gain, showcasing Bitcoin&#8217;s renewed vigor. While Ether (ETH) and Cardano (ADA) saw modest increases, Bitcoin clearly stole the show. Source: CryptoQuant What sparked this fiery comeback? Analysts at Bitfinex had initially pointed to heightened miner selling as a potential culprit for recent price dips. However, the narrative flipped as whales, those enigmatic holders of vast Bitcoin stashes, began gobbling up the digital gold. Crypto sleuth Ali Martinez, analyzing data from Glassnode, revealed a multi-month high of 73 wallets holding over 1,000 Bitcoins (roughly $44 million each). This whale activity signaled a renewed vote of confidence in Bitcoin&#8217;s long-term potential. #Bitcoin whales are accumulating more $BTC! Around 73 new whales now hold 1,000 #BTC or more, marking a 3.66% increase in two weeks. pic.twitter.com\/VFArJYTQZl \u2014 Ali (@ali_charts) February 7, 2024 Adding fuel to the fire were record-breaking performances by US stock indices. The S&amp;P 500, Dow Jones, and Nasdaq Composite all flirted with all-time highs, creating a positive ripple effect that buoyed riskier assets like Bitcoin. This synchronized surge suggested a broader investor appetite for risk, emboldening cryptocurrency bulls. Bitcoin currently trading at $44,504 on the daily chart: TradingView.com Thailand: VAT Elimination Spurs Crypto Adoption Meanwhile, the Finance Ministry of Thailand announced the elimination of the 7% value-added tax (VAT) on Bitcoin and cryptocurrency trading. This groundbreaking decision positions Thailand as a frontrunner in digital asset adoption, aiming to attract investment and establish the country as a regional hub for innovation. Related Reading: Cardano Price Stagnant At $0.48, But Charts Point To Potential Upswing This bold regulatory shift injected a powerful dose of optimism into the already bullish trend, showcasing government recognition of the potential of cryptocurrencies. As Bitcoin navigates its next move, technical indicators and the supportive trend of the Simple Moving Average suggest continued upside potential. However, the cryptocurrency market remains inherently volatile, and investors should exercise caution. Nonetheless, Wednesday&#8217;s surge, fueled by diverse factors, paints a promising picture for Bitcoin&#8217;s future, leaving many wondering if this is the beginning of another bull run. Only time will tell, but one thing is certain: the Bitcoin bulls are back, and they&#8217;re roaring loud. Featured image from Adobe Stock, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":573935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,532,1119,1122,1144,6664],"class_list":["post-573932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-etf","tag-btc","tag-btc-price","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) shook off recent bearish whispers and roared back to life on Wednesday, clawing its way past $44,000 and marking a four-week high as the top\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut","url":"http:\/\/uniquehot.com\/news\/bitcoin-nears-45000-level-in-historic-price-surge-following-spot-etf-debut\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-nears-45000-level-in-historic-price-surge-following-spot-etf-debut\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/1_243312.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/1_243312.jpg?fit=420%2C240"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","btc","btc price","btcusd","crypto"],"dateCreated":"2024-02-08T07:30:27Z","datePublished":"2024-02-08T07:30:27Z","dateModified":"2024-02-08T07:30:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-nears-45000-level-in-historic-price-surge-following-spot-etf-debut\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-nears-45000-level-in-historic-price-surge-following-spot-etf-debut\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/1_243312.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/1_243312.jpg?fit=420%2C240\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"btc\",\"btc price\",\"btcusd\",\"crypto\"],\"dateCreated\":\"2024-02-08T07:30:27Z\",\"datePublished\":\"2024-02-08T07:30:27Z\",\"dateModified\":\"2024-02-08T07:30:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/1_243312.jpg?fit=420%2C240","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/573932"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=573932"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/573932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/573935"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=573932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=573932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=573932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}