The expectation of a spot Bitcoin ETF in the United States is already fueling the market, and bitcoin has reached $40,000 for the first time in more than a year. The behavior is quite a milestone, especially if we take into account that more than 570 days have passed since bitcoin was quoted above this price.  

Bitcoin had not reached such levels since May 8, 2022 , one day before the Terra/Luna crash. A platform that claimed to collateralize its stablecoin, Terra USD, with bitcoins, promising up to 20% annual interest. And that, during a liquidity crisis, it caused all its savers to lose millions of dollars, since it was unable to maintain parity with its stablecoin with the dollar, even liquidating its reserves in bitcoin, and losing 99% of its value.  

After the resounding fall, as seen in the graph, bitcoin suffered other considerable falls , such as the one in November 2022, during the bankruptcy case of the FTX exchange, which took the price of bitcoin to its lowest point above $16,000.  

With the arrival of the Bitcoin spot ETF application by BlackRock last June , the price of Bitcoin began a slow but active price recovery, reaching $30,000 again. Now, with the imminence of the future approval of an ETF in January , in which some claim that there is a 90% probability of approval, the market is already beginning to mark its upward path. Until next, keep liking, tipping, and don't forget to follow!