Bitcoin has sharply increased in value

In the evening of December 19, the price of bitcoin BTC $56,459.08 Bitcoin -3.08% Market capitalization $1.11 trillion VOL. 24 hours $4.5 billion jumped by 5.5% to exceed $ 43,000, while the flagship crypto asset’s capitalization added $ 50 billion.

As of the morning of December 20, according to the analytical tracker CoinMarketCap, the main cryptocurrency was trading 0.05% lower at $ 42,900. The total amount of BTC circulating on the market is $ 839.9 billion. Traders made daily trading deals worth $ 21.4 billion. Bitcoin’s dominance in the market has increased to 52.2%.

The jump in the BTC price occurred amid positive changes in applications for bitcoin ETFs: BlackRock and WisdomTree submitted an updated version of S1. This happened shortly after Ark Invest and 21Shares updated their applications.

If the U.S. Securities and Exchange Commission (SEC) approves BlackRock’s spot bitcoin ETF, it will trade under the IBIT ticker symbol.

It is noteworthy that BlackRock accepted the SEC’s directive and chose to redeem fund shares in cash rather than bitcoins, as it had originally intended. Shortly after BlackRock, WisdomTree presented its amendments to S1.

Crypto analyst Ali Martinez sheds light on the current price dynamics of the main crypto asset. In his analysis, the crypto expert highlights the key levels of $ 41,900 and $ 40,700 as the most important resistance points for traders.

The importance lies in the potential consequences of a decisive close above or below this range. According to Martinez, such a move could potentially cause a sharp shift in the price of bitcoin by 8−9%, depending on the direction of the breakout.

There is another distinct trend in the market: wallets containing 1 bitcoin or less have reached their historical high. In contrast, the number of mid-level wallets has slightly decreased over the past few months, while whale wallets are showing a growing trajectory in terms of the amount of bitcoin they hold.