Bitcoin (BTC) price surpassed $46,000 as the ‘long’ year began, easing ETF selling.

“Bitcoin rose above its 50-day moving average late Wednesday, confirming a medium-term bullish trend and allaying concerns of a deeper correction,” FxPro senior market analyst Alex Kuptsikevich wrote in an email to CoinDesk. said. “On a weekly basis, Bitcoin and the broader cryptocurrency market have gained strength after a long period of consolidation and are now poised to hit new highs.”