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Spot Bitcoin ETF Approval Drives Bitcoin Past $48,000 Mark, ETF Total Trading Volume Peaks $2.3B

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After the historic Spot Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC), Bitcoin BTC/USD prices raced past the $48,000 mark to currently stand at $48,627 (+6%). It briefly crossed the $49,000 mark to touch $49,012.

Indicating rising investor interest, Bitcoin trading volume in past 24 hours is now high by around 45% after the SEC Chair Gary Gensler approved 11 Spot Bitcoin ETFs on Jan. 10. 

Based on Crypto Quant data stated by its founder Ki Young Ju, the daily OTC Bitcoin volume peaked to $7.7 billion which is the second highest in its history. While db, crypto news specialist, stated on X that Spot ETF total trading volume touched $2.3 billion within the first 20 minutes of trade.

Based on Whale Alert data, 4,361 Bitcoin, worth $211.9 million, was transferred from one unknown wallet to another unknown wallet, today (Jan.11). Also, yesterday 1,460 Bitcoin worth $65.7 million transferred from Coinbase to unknown wallet.

With a market cap of $940.1 billion, Bitcoin has crossed the levels of Tesla, Facebook and Berkshire Hathaway.

The crypto king peaked to these levels amid the U.S. CPI data rose to 3.4% year-on-year in December 2023, exceeding expectations of 3.2%. 


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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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