- Bitcoin price surged past $34,000, reaching its highest since May 2022.
- The bullish trend is attributed to the growing enthusiasm surrounding the possibility of a Bitcoin ETF.
- BTC was trading at $34,061, up by over 76.21% year-to-date.
In the early hours of Tuesday, the price of Bitcoin surged past the $34,000 level, reaching its highest point since May 2022. The world’s largest cryptocurrency by market capitalization was observed trading at $34,942, fueled by growing enthusiasm surrounding the possibility of a Bitcoin exchange-traded fund (ETF).
The positive sentiment regarding a potential Bitcoin ETF escalated after the Court of Appeals issued a mandate yesterday in the Grayscale Investments’ case against the U.S. Securities and Exchange Commission (SEC). This “formal mandate” effectively orders the SEC to reverse its previous rejection and reevaluate the application by the asset manager to transform its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.
Over the past few days, the crypto market has been experiencing a surge, with Bitcoin surpassing $30,000. On Monday, it climbed past $31,000 for the first time since May, driven by the exp…
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