The crypto market appears to have started the new year with a bang as Bitcoin broke above $45,000 late Monday.

According to TradingView data, bitcoin crossed the $45,000 line shortly after 7 p.m. ET. Trading volumes rose sharply at that time, with the price peaking at $45,376 on Coinbase.

Bitcoin was last above the $45,000 mark in April 2022, according to market data.

As of press time, bitcoin is hovering around the $45,000 mark on Coinbase, having previously slid to a local low around $44,700.

It’s unclear what prompted the Monday price move, but speculation has mounted in recent weeks above a potential approval of a spot bitcoin ETF in the United States.

Numerous firms,…

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