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$ 104,027.9
BTC
$ 104,027.9
-0.60 %
$ 2,539.72
ETH
$ 2,539.72
0.34 %
$ 0.8285
ADA
$ 0.8285
3.03 %
$ 683.51
BNB
$ 683.51
3.72 %
$ 174.68
SOL
$ 174.68
-0.07 %
Sujit Kumar
Dec 18, 2024
by Sujit Kumar

Bitcoin Hits $107K as Crypto ETFs and Altcoins Gain Momentum

Bitcoin Hits $107K

Table of contents

  1. Crypto ETFs on the Horizon
  2. Spotlight on Altcoins
  3. What’s Next for Traders?
The year 2024 ends with Bitcoin smashing its all-time high of $107,000, while altcoins like Ethereum, Solana, and XRP are trading in the green. This rally is fueled by optimism surrounding lower interest rate cuts in December and MicroStrategy’s inclusion in the Nasdaq 100 index, which has bolstered investor confidence.

Crypto ETFs on the Horizon

According to Bloomberg’s Eric Balchunas, Bitcoin-Ethereum combo ETFs are expected to debut soon, followed by altcoins like Hedera (HBAR). However, Solana (SOL) and XRP ETFs may face delays due to ongoing legal battles with the SEC. Analysts predict approval for these ETFs by late 2025, coinciding with changes in SEC leadership.

The nomination of Paul Atkins, a pro-crypto former SEC commissioner, by President-elect Donald Trump has amplified optimism. With Gary Gensler’s removal as SEC Chair, the regulatory landscape is poised to support broader crypto ETF approvals.

Spotlight on Altcoins

While Litecoin (LTC) and Hedera (HBAR) ETFs could gain approval sooner due to their regulatory clarity, Solana and XRP must wait for new leadership at the SEC. Nate Geraci, President of ETF Store, believes Solana ETFs could launch by late 2025.

Issuers remain optimistic, with Alexander Blume, CEO of Two Prime Digital Assets, stating, “They wouldn’t waste the time and expense if they didn’t believe approval was likely.”

What’s Next for Traders?

As Bitcoin’s dominance grows, the market looks to diversify with altcoin ETFs to attract fresh capital inflow. January could be pivotal, with XRP and Solana showing breakout potential. With new ETFs expected in Q1 2025, the crypto market offers exciting opportunities for portfolio diversification.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitcoin Hits $107K
Bitcoin Hits $107K as Crypto ETFs and Altcoins Gain Momentum
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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