## Altcoins Surge as Bitcoin Looks to Bounce Back

The cryptocurrency market is showing signs of recovery following a flash crash on Wednesday that impacted Bitcoin and altcoins. Celestia (TIA) surged by 22%, Aptos (APT) by 14%, and Stacks (STX) by 11% in the past 24 hours. This surge in the value of altcoins coincides with increased speculation around the approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC).

### TIA, APT, and STX Leading the Gains

As of Thursday morning, Celestia’s price had risen by 22%, Aptos by 14%, and Stacks by 11%. The surge in altcoin values is linked with growing optimism regarding the approval of the first spot Bitcoin ETF by the SEC, which has been driving market sentiment. Analysts have been predicting a potential uptick in the cryptocurrency market if the SEC greenlights spot Bitcoin ETFs.

Fox Business reporter Eleanor Terret noted on Wednesday that the SEC had engaged with various stock exchanges to finalize comments on form 19b-4s that spot ETF issuers had submitted. Additionally, there have been speculations that the SEC could approve applications from entities such as BlackRock, Fidelity, Ark Invest/21 Shares, and Grayscale as early as Friday, January 5. It was also highlighted that investment banking giant Goldman Sachs is reportedly in discussions with BlackRock to become an authorized participant.

Bitcoin’s price has seen a nearly 2% increase in the past 24 hours, trading at over $43,400, indicating a potential market recovery.

## FAQ

### What caused the surge in altcoin prices?
The surge in the value of altcoins such as Celestia (TIA), Aptos (APT), and Stacks (STX) is linked with the anticipation of the approval of the first spot Bitcoin ETF by the US Securities and Exchange Commission (SEC).

### How has Bitcoin performed in the past 24 hours?
Bitcoin’s price has witnessed an almost 2% increase in the past 24 hours, trading at over $43,400.

### Which entities are speculated to receive approval for spot Bitcoin ETFs from the SEC?
Speculations suggest that the SEC could approve applications from various entities including BlackRock, Fidelity, Ark Invest/21 Shares, and Grayscale as early as Friday, January 5.

### What is the significance of the SEC’s potential approval of spot Bitcoin ETFs?
The approval of spot Bitcoin ETFs by the SEC is anticipated to have a positive impact on the cryptocurrency market, catalyzing a notable upside in the market sentiment.

### Is there any prominent development related to the potential approval of spot Bitcoin ETFs?
Reports indicate that investment banking giant Goldman Sachs is in talks with BlackRock to become an authorized participant if spot Bitcoin ETFs receive approval from the SEC.