Bitcoin

<p>The post <a rel="nofollow" href="https://coinpedia.org/bitcoin/why-bitcoin-btc-price-is-up-today-3/">Why Bitcoin (BTC) Price Is Up Today?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The Bitcoin (BTC) market enjoyed a relatively mild rally that saw its value rise to a new high for 2023 on Thursday. During the early New York trading session on Thursday, Bitcoin price traded above $31k and made some advancement towards $31.4k before retracing $30.7k. </p> 
<p>According to the latest market data provided by Binance-backed Coinmarketcap, Bitcoin’s daily traded volume was up approximately 36 percent to about $16.9 billion. Today’s Bitcoin pump saw its market dominance rally beyond 51 percent.</p> 
<h2 class="wp-block-heading" id="h-what-s-the-reason-behind-bitcoin-pump-on-thursday">What’s the Reason Behind Bitcoin Pump on Thursday&nbsp;</h2> 
<p>It is safe to say that Bitcoin is largely controlled by crypto whales who are mostly long-term holders. The recent Bitcoin ETF frenzy was rejuvenated after BlackRock reapplied its application through Nasdaq including Coinbase via a surveillance sharing agreement (SSA). Notably, Fidelity Investment has since reapplied for its Bitcoin ETF with the SEC in a bid to expose its institutional clients to the crypto market.</p> 
<p>On Wednesday, another investment firm dubbed Valkyrie Investment reapplied for a Bitcoin ETF.&nbsp;</p> 
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   <p lang="en" dir="ltr">Valkyrie also re-filed their 19b-4, like BlackRock they mention specific SSA agreement w/ Coinbase, even seems more aggressive (more use of the words 'executed' and 'agreement') They also, like BlackRock, call Coinbase largest US spot bitcoin exch h/t <a href="https://twitter.com/NateGeraci?ref_src=twsrc%5Etfw">@NateGeraci</a> <a href="https://t.co/NDYKSzJeq9">pic.twitter.com/NDYKSzJeq9</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1676593044236148737?ref_src=twsrc%5Etfw">July 5, 2023</a>
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<p>Additionally, the Bitcoin market also got a huge boost of confidence after BlackRock CEO Larry Fink said in a televised interview that Bitcoin is digitizing gold.</p> 
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 <p>“Specifically on bitcoin, as I’ve said in the past, we’re a believer in the digitization of products,” Flink <a href="https://www.crypto-news-flash.com/8-5t-blackrock-ceo-larry-fink-super-bullish-on-bitcoin-digitalizing-gold-will-it-drive-btc-price-to-new-ath-of-100000-in-2023-report/">noted</a> in the FOX interview. “Bitcoin is an international asset…It can represent an asset that people can play as an alternative.”</p> 
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Why Bitcoin (BTC) Price Is Up Today?

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