Crypto prices started the new year in the green while stocks faltered on the first trading day of 2024. 

Bitcoin and ether inched higher Tuesday, extending gains that saw bitcoin surpass $45,000 for the first time since April 2022 on Monday. Bitcoin (BTC) was hovering around $45,400 Tuesday after the open, up close to 3% in 24 hours and 7% over the past five days. 

Ether (ETH) gained 1% Tuesday, trading around $2,400 after flirting with the $2,500 level earlier in the week. 

Analysts attribute bitcoin’s rally to — perhaps misplaced — optimism that a bitcoin exchange-traded fund will get the green light from the US Securities and Exchange Commission this week. 

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