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Why Bitcoin Is Rising: Price Surpasses $47K For The First Time Since April 2022! - Coin Newsletter
Bitcoin (BTC) has risen more than 7% in the last 24 hours to above the $47K level.**
Bitcoin has risen above $47,000 for the first time since April 2022 as expectations for the landmark spot Bitcoin ETF approval in the United States peak.
While the U.S. Securities and Exchange Commission (SEC) doesn't have much time left for its spot Bitcoin ETF decision, companies' fees and constant updates have increased the likelihood of approval. For this reason, investors who want to be in the market in order not to miss the rise that may occur during any confirmation are pushing the price up.
The price of Bitcoin has fluctuated in the past week due to confirmation expectations and non-realization. However, the fact that the time is now short has caused the price to play to the peaks.
With the rise of Bitcoin, greening was also seen in altcoins. Avalanche (AVAX) and Solana (SOL) showed serious bullish performance, while Ethereum approached the highest levels of the last period.
According to data from CoinGecko, Bitcoin is trading at $46,744 at the time of writing.