Bitcoin targets $48K in 'spot-driven' BTC price rally

Bitcoin sees its highest levels since early April 2022, but shorters are well-prepared for ETF volatility.

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Bitcoin (BTC) hit new 21-month highs on Jan. 2 as excitement returned to crypto markets in the Asia trading session.

Data from Cointelegraph Markets Pro and TradingView showed BTC price strength building as the new year holiday period ended.

Amid renewed excitement over the United States’ first spot Bitcoin exchange-traded fund (ETF), BTC/USD gathered steam to hit $45,922 on Bitstamp.

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