Crypto Market Update: Bitcoin Bulls Fuel Market Rally

The crypto market today is witnessing a significant rally, with Bitcoin leading the charge. The recent uptick in Bitcoin’s price is attributed to the accumulation by BTC bulls. This surge is believed to be fueled by capital influxes from outside the U.S., particularly from China, Europe, and Canada.

Moreover, the crypto market is buzzing with anticipation as a $700 million Bitcoin options expiry looms. Traditionally, the expiry of Bitcoin options has been associated with increased market volatility. However, whether this will fuel a weekend crypto market rally remains to be seen.

Recent Market News

In other news, the U.S. Securities and Exchange Commission approved 11 spot bitcoin exchange-traded funds to start trading on U.S. exchanges in January. Despite this, Bitcoin and other major cryptocurrencies have struggled over the past month. This struggle is attributed to traders taking profits in a sell-the-news trade following the launch of the spot ETFs.

Bitcoin Price Today

As of today, the price of Bitcoin is $46,988, reflecting a 3.7% increase since yesterday. The global cryptocurrency market cap today is $1.73 trillion, a 0.11% change in the last 24 hours.

Top 3 Gainers	Top 3 Losers
ZMINE (ZMN)	Picasso (PICA)
Sperax (SPA)	Multichain (MULTI)
Whales Market (WHALES)	Ronin (RON)

Please note that the names of the top gainers and losers are based on the latest data available. The crypto market is highly volatile, and prices can fluctuate rapidly. Always do your own research before making any investment decisions.