Bitcoin (BTC) has broken the $30,000 level for the first time since April, surging over 10% in the past 24 hours.
Bitcoin is Up Over 80% Since Opening at $16,547 at the Start of 2023
Bitcoin (BTC) has broken the $30,000 level for the first time since April, surging over 10% in the past 24 hours.
This rally comes amid renewed interest from institutional investors and several traditional finance (TradFi) players pushing further into the crypto market.
Following BlackRock, Invesco and WisdomTree have also filed for spot Bitcoin ETFs, while EDX Markets, a crypto exchange backed by Fidelity, Charles Schwab and Citadel, launched this week. Deutsche Bank also announced it had applied for a digital asset custody license in Germany.
Despite the recent regulatory crackdown from the US Securities and Exchange Commission (SEC), and past rejections of spot ETF applications, the market is liking the chances of BlackRock succeeding given its status and track record with the SEC.
Bitcoin is up over 80% since opening at $16,547 at the start of 2023, but is still well below its all-time high of $68,789 set in November 2021.
