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Bitcoin Breaks Above $45K, Traders Predict a Possible $50K Push
It's the highest price since the day after the new spot ETFs opened for trade.
Updated Mar 8, 2024, 9:17 p.m. Published Feb 8, 2024, 3:10 p.m.
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Bitcoin , the world's largest cryptocurrency by market value, has pushed above the $45,000 mark for the first time since the day after the spot ETFs began trading on Jan. 11. At press time, BTC was higher by 4.9% over the past 24 hours to $45,034, modestly outperforming a 4.4% rise for the broader CoinDesk 20 Index.
"Breaking $45,000 allows early investors who piled on the bitcoin ETF to be almost in the money, if we continue this ascent we may even see some profit taken and could trigger a reversal where the $42,000/$40,000 level may be tested," said Laurent Ksiss, crypto ETP specialist at CEC Capital.
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In contrast to Kssis, LMAX Digital said in a morning note to investors that it expects to see bitcoin climb higher, possibly reaching the $50,000 level. "Technically speaking, bitcoin has broken out of a range and could be looking for a push to a fresh yearly high through $50,000."
Ether was also on the move, rising 3% to reach a two-week high after asset managers Ark Invest and 21Shares yesterday amended their joint spot ETH ETF filing.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
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