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BTC Price and Spot Exchange Volume Exhibit Substantial Growth

Published 10/29/2023, 03:50 PM
Updated 10/29/2023, 04:15 PM
© Reuters.  BTC Price and Spot Exchange Volume Exhibit Substantial Growth

  • The spot exchange volumes across various popular crypto platforms have surpassed $24 billion.
  • Amidst market volatility, Bitcoin exhibits substantial growth, reaching a 17-month high price.
  • The surge in Bitcoin and exchange volume is highly driven by anticipations of an imminent Bitcoin ETF approval.

In an intriguing turn of events, speculations on an imminent spot Bitcoin Exchange Traded Fund (ETF) have driven Bitcoin to escalate to the high of $35,000. In addition, the recent crypto rally has prompted the daily exchange volumes of prominent platforms to exhibit remarkable surges.

According to recent reports, the bullish trends in the crypto space have resulted in the growth of the spot exchange volumes across various popular crypto platforms. The seven-day moving average for spot exchange volume has jumped to highs unseen from March, surpassing $24 billion on October 24.

Source: The Block

Chinese crypto reporter Colin Wu took to X earlier today to unveil the increasing market volatility that resulted from the community’s expectations of the much-awaited ETF approval. Analysts foresee an impending Bitcoin launch by the first month of 2024, further boos…

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