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Bitcoin rose to a four week high nearing $45,000 on Friday amid record highs for U.S. equity indices. Bitcoin, which had fallen as low as $ 42,700 on Wednesday, has risen almost 5% to $44,800. This is the highest level since January 11, according to CoinDesk. Laurent Kssis is a crypto ETP expert at CEC Capital. He said that this pump was driven by leverage. The open interest in BTC contracts increased by $982,000,000 in less than 24hours. Kssis remains cautious and believes the $40,000 mark could be tested by the weekend The overall liquidation shows that BTC will continue to appreciate, and break the 45k support level. Ether gained 3% after Ark Invest and 21Shares updated their joint ETH ETF filing. The CoinDesk20 increased 4%.

The spot trading volume on centralized crypto exchanges grew in January for the fourth month in a row, reaching a level not seen since June 2022, as the approvals of bitcoin ETFs Bitcoin (BTC), which is a digital currency, surged in price before the ETF approval on Jan. 10, but then fell off. CCData said that “the price action after the highly anticipated approval indicates that the sell-off marks the end of an upward trend that has persisted for several months.” Binance is the biggest cryptocurrency exchange based on trading volume. Volume increased by 2.73% to $473 billion in January. Binance has a 31.3% market share, but its spot share is expected to decline gradually over the next few years as the company faces a number of regulatory charges that ultimately force founder and CEO Changpeng Zhao to resign.

JPMorgan’s (JPM) research report on Wednesday said that there is evidence to suggest that the Blackrock spot bitcoin (BTC), and Fidelity exchange-traded fund (ETF) have already an edge over Gray The report stated that even though Grayscale’s GBTC’s outflows slowed down in the fourth weeks following the approval by the U.S. Securities and Exchange Commission, it is still expected to lose to newly created ETFs and, in particular, to Blackrock and Fidelity Grayscale is the highest-priced spot bitcoin ETF provider. Grayscale reduced its 2% fee to just 1.5% in order to convert to a bitcoin ETF. However, it is still more expensive than other offerings.

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Sheldon Reback is the editor.