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Bitcoin jumps above 45k as market players assume ETF approval is close

Following an earlier drop to a European low at 43,680, Bitcoin has short higher again and this time it recaptured the 45k handle. The high seen was set at 45,207, but it has backed off from there now. The low seen a short while ago was set at 44,458. The reason for the jump prior to that was all based on some rather news concerning ETF application filings with the US SEC. Those concerned the so called S-1 filing applications from a number of would be issuers of any ETF. This also entails proposed charges and other technical detail. However, it must be stressed that none of this will ensure any ETF licences are granted by the SEC. There are at least four firms putting forward such applications and we know that the granting of licence by the SEC could come as early as Wednesday. The fact that all these applications are being tweaked at the last minute has concluded some in the market to assume the SEC will give their approval to at least one, but that is not something to bank on by any means. Bitcoin is currently trading at 44,905

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