Cryptocurrency

United

Bitcoin ETF

James

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 <p class="paragraph">Although most digital assets have slowed down their gains from the previous weeks, the cryptocurrency market has increased its total value by over 3% today, and the reasons largely trace back to the flagship decentralized finance (DeFi) asset that has reached its new yearly high.</p>
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 <p class="paragraph">Indeed, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency sector’s total <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> capitalization currently stands at $1.37 trillion, indicating a 3.008% increase from the $1.33 trillion in the last 24 hours, according to the data retrieved by Finbold from the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> monitoring platform <em>CoinMarketCap</em><em> </em>on November 9.</p>
 <p class="paragraph">On top of that, thanks to the strong and steady advances of Bitcoin (BTC), which has recently surpassed the psychologically critical $36,500 price level, the total <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap has risen a staggering 72.59% since $793.77 billion, where it stood on January 1, 2023.</p>
 <figure class="wp-block-image aligncenter is-resized"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/TVtu6Cv11FMqc8CPPwq0ShGaR17NUA-zPBrB88Ox8QOfAte5t001vEr7MUR8uGtKXv5wkOH5vRnIGVWvnZj0leVXDyfuty5Ya5qLi0c8-qSkyXf6mu7IwmGs6J490OhqfnOuJXctZzh-PrtLAFk4NX0" alt width="834" height="444">
  <figcaption class="wp-element-caption"><em>Total crypto market cap year-to-date (YTD) chart. Source: </em><em>CoinMarketCap</em>
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 <h2 class="wp-block-heading" id="h-what-s-happening-in-crypto">What’s happening in crypto</h2>
 <p class="paragraph">Meanwhile, the maiden crypto asset was at press time changing hands at the price of $36,710 growing 4.01% in the last 24 hours, as well as adding 4% across the previous seven days, advancing as much as 32.63% over the past month, and 121.84% year-to-date (YTD), as the charts indicate.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/09/aaf6b19f6de9b2f73eefc7830b8bdb39.webp" alt class="wp-image-136439" srcset="https://cdn.thebittimes.com/images/2023/11/09/aaf6b19f6de9b2f73eefc7830b8bdb39.webp 1024w, https://cdn.thebittimes.com/images/2023/11/09/aaf6b19f6de9b2f73eefc7830b8bdb39.webp 300w, https://cdn.thebittimes.com/images/2023/11/09/aaf6b19f6de9b2f73eefc7830b8bdb39.webp 768w, https://cdn.thebittimes.com/images/2023/11/09/aaf6b19f6de9b2f73eefc7830b8bdb39.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin year-to-date price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">As it happens, one of the reasons behind the wave of bullish sentiment could be the optimism regarding the approval of the first spot Bitcoin exchange-traded fund (ETF) following the news that the United States Securities and Exchange Commission’s (SEC) first window to approve them starts <a rel="noopener noreferrer nofollow" title="today" href="https://thebittimes.com/tag/today.html">today</a>.</p>
 <p class="paragraph">Indeed, there are eight days – between November 9 and November 17 – in which the regulator could approve all 12 spot Bitcoin ETF filings, according to Bloomberg’s ETF analysts James Seyffart and Eric Balchunas, although the experts stressed that this was only a possibility.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/why-is-crypto-market-up-today-tbt69632.html">https://thebittimes.com/why-is-crypto-market-up-today-tbt69632.html</a></p>

Why is crypto market up today?

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