Bitcoin ($BTC) smashed another price ceiling with the king coin crossing the $45k price mark, as the crypto market primed itself for the volatility expected to accompany the Bitcoin ETF decision.
![](https://www.blockhead.co/content/images/size/w1200/2024/01/Why-Approval-Of-Bitcoin-ETF-Is-Not-Important-Any-More-1.png)
Earlier, BTC had hovered over the $44.5k resistance level but a 10% price increase on the daily timeframe saw Bitcoin flip the level to support. With BTC trading at $46.6k as of the time of writing, the price action showed an increased possibility of Bitcoin hitting the $50k mark in the short to medium term.