Bitcoin breaks above $44k for first time since ETF market mania

BTC’s price began to surge during late-afternoon trading hours in the US

article-image

Sasin Paraksa/Shutterstock modified by Blockworks

share

The price of bitcoin is back above $44,000.

Market data shows that the price began to break out of its range around 4 pm ET. 

At press time, the price was trading around $44,170 on Coinbase, according to TradingView, after reaching a local high of $44,430.

Source: TradingView

The cryptocurrency last traded above $44,000 on Jan. 12 amid the market mania around spot ETFs. Last month, the Securities and Exchange Commission granted approval to a group of ETFs after a protracted regulatory process. The price of bitcoin gyrated during that period and at one point climbed above $48,000.

Read more: Bitcoin ETFs are not crypto’s finish line

Today’s move represents a notable breakout, given the relatively moribund trading seen in recent days. As Blockworks’ Casey Wagner reported this week, major cryptos like BTC and ETH were either flat or seeing minor gains amid speculation about future moves by the US Federal Reserve. 

“​​It is important to note that bitcoin has been resilient over the last week despite higher US interest rates and a stronger US dollar,” Zach Pandl, Grayscale’s managing director of research, said earlier this week. 

The exact catalyst for today’s price action isn’t clear. Coinbase’s stock climbed 1.9% today, while the Nasdaq overall rose 0.9%.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

Bain Capital Crypto and Haun Ventures co-led the round as demand grows for Bitcoin-denominated savings and annuities

by Blockworks /
article-image

NYSE owner’s investment values the prediction market at $8–9 billion, signaling Wall Street’s entry into event-based trading

by Blockworks /
article-image

Pineapple begins deploying its $100 million Injective Digital Asset Treasury, staking INJ to earn yield and fund onchain mortgage ambitions

by Blockworks /
article-image

Staking levels in the ether funds will depend on protocol unstaking queue times and anticipated redemption activity, firm says

article-image

ETF inflows, miner strength, and tightening supply drive Bitcoin past its prior peak amid renewed demand for scarce assets

by Blockworks /
article-image

The Guidestar team, led by Alex Nezlobin, will join Uniswap Labs to enhance automated market maker design and smart order routing

by Blockworks /