The driving force behind this price surge for the world's largest digital currency is speculation about the US potentially looking to launch a spot Bitcoin exchange-traded fund (ETF), which is causing Bitcoin short sellers to close positions. There must be a reason. Thai.
In the first session of the week, US time, Bitcoin prices briefly reached around USD 34,300/Bitcoin, the highest since April 2021, according to data from Coinmarketcap.com. At almost 9 a.m. Vietnam time this morning, Bitcoin price was around $34,300 and Bitcoin trading price was $33,630, up more than 10% from 24 hours ago and up nearly 19% in the last week.
The price of Ethereum, the second-largest digital currency after Bitcoin, rose nearly 6% to more than $1,770 an ounce, its highest level in two months. "The market is responding best to expectations that the Bitcoin Spot ETF is nearing approval," Matthew Dibb, chief investment officer at digital asset management firm Austronaut Capital, told Reuters. We hope that such a fund will be approved within the next three months, or sooner."
In the first session of the week, US time, Bitcoin prices briefly reached around USD 34,300/Bitcoin, the highest since April 2021, according to data from Coinmarketcap.com. At almost 9 a.m. Vietnam time this morning, Bitcoin price was around $34,300 and Bitcoin trading price was $33,630, up more than 10% from 24 hours ago and up nearly 19% in the last week.
The price of Ethereum, the second-largest digital currency after Bitcoin, rose nearly 6% to more than $1,770 an ounce, its highest level in two months. "The market is responding best to expectations that the Bitcoin Spot ETF is nearing approval," Matthew Dibb, chief investment officer at digital asset management firm Austronaut Capital, told Reuters. We hope that such a fund will be approved within the next three months, or sooner."
