On January 22, 2025, Bitcoin surged to a price of $45,000, marking a significant increase of 12% from the previous week. This surge comes amid a notable rise in trading volume, which reached $4 billion within 24 hours, indicating heightened market activity.
In addition to price movements, regulatory developments are impacting the market. The U.S. Securities and Exchange Commission (SEC) approved a new Bitcoin ETF, which is expected to further boost institutional investment in the cryptocurrency space. Analysts predict that this could lead to a potential price target of $50,000 in the coming weeks.
The overall market capitalization of Bitcoin now stands at approximately $850 billion, solidifying its position as the leading cryptocurrency. Other major cryptocurrencies, such as Ethereum and Binance Coin, also experienced gains, with Ethereum reaching $3,200 and Binance Coin at $500.