Bitcoin, the leader of the crypto markets, has reached the $39,500 level, marking its highest level since May 2022. Now all eyes are on whether Bitcoin will cross the psychological threshold of $40,000. Expectations are also directed towards the decision of the SEC (Securities and Exchange Commission of the United States) regarding Bitcoin spot ETF.

Lately, BTC has gained substantial momentum. Once again returning to its old shining days, there is curiosity about whether Bitcoin, a threshold that could affect the entire cryptocurrency and finance sector, will exceed the $40,000 level. As a result, Bitcoin is at 40000!

The SEC’s decision will be decisive in the value of the leading cryptocurrency. It has been reported that a decision for Bitcoin spot ETF applications will be given between January 8 and 10. Markets are eagerly awaiting how this decision will affect Bitcoin and other cryptocurrencies. The decision can be approval, rejection, or postponement, which is known. However, developments in previous ETF applications create uncertainty in the industry.

Bitcoin Technical Analysis What will happen to BTC?

Experts suggest that a series of positive news is necessary for BTC to exceed the $40,000 threshold. Therefore, the decision that SEC will make on Bitcoin spot ETF submissions could play a crucial role in this process.

Bitcoin attracted attention by making a robust closing on the daily chart over $38,000 with a sharp increase. Subsequently, it made a sharp upward movement against the resistance levels of $39.410-$39.900.

If it could find support at these levels, it could continue its rise up to $45,445. However, if it cannot pass resistances, it can drop to the support level of $37,760 with the possibility of retraction. If BTC ranges this region, positive price movements can be observed in altcoins.

This rise of Bitcoin could mean a new bull period in the cryptocurrency markets. However, as always, it is worth reminding cryptocurrency investors to be careful in this dynamic sector day and night and to make conscious investments.

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