Ethereum

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<p><strong>Bitcoin’s price jumped over 12%, exceeding $34,000 as the cryptocurrency saw its ATH broken in 2023. Ethereum also rallied, with the second-largest crypto by market cap rising 7% to over $1,800.</strong></p> 
<p>The double-digit percentage increase for Bitcoin comes amid a confluence of positive developments in the cryptocurrency space that have renewed investor optimism. On Monday, shares of the iShares Spot Bitcoin Trust began trading on the Depository Trust &amp; Clearing Corporation (DTCC), marking the first Bitcoin investment vehicle to be listed on the key clearing house.</p> 
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<p>Additionally, the Securities and Exchange Commission (SEC) approved a rule change that will allow trading of the Grayscale Ethereum Futures Trust ETF. The SEC’s move was the latest sign of growing regulatory acceptance of crypto-based financial products.</p> 
<p>Liquidations of Bitcoin shorts worth around $310 million in the last 24 hours likely added momentum to Bitcoin’s rally. The cryptocurrency surpassed key resistance levels after gaining traction above $30,000.</p> 
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">JUST IN: $310 million worth of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> shorts liquidated in the past 24 hours.</p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1716649443397689788?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 24, 2023</a>
</blockquote>  
<p><em>“Bitcoin reclaiming the $30K level appears to have reopened the floodgates for more upside as shorts are forced to cover,” </em>said Petar Jovanović, Head of Content and leading analyst at CaptainAltcoin. </p> 
<p>Ethereum benefited from the bullish sentiment, with its 7% gain. The approval of a futures-based ETF product involving Ether will be seen as an incremental positive step for the smart contracts platform.</p> 
<p>Tuesday’s broad-based rally in the top cryptocurrencies by market cap follows a brutal 2022 and 2023 for the asset class. While considerable risks around regulation and macroeconomic conditions remain, the latest price action suggests traders have become more comfortable re-entering digital asset markets.</p> 
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<p>The post <a rel="nofollow" href="https://captainaltcoin.com/bitcoin-soars-past-34k-as-310-million-in-shorts-liquidated-market-outlook/">Bitcoin Soars Past $34K as $310 Million in Shorts Liquidated – Market Outlook</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin Soars Past $34K as $310 Million in Shorts Liquidated – Market Outlook

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