• Bitcoin (BTC) crossed $31,000 and Ethereum (ETH) nearing the $2,000 mark.
• Renewed interest generated by several prospective ETF issuers who resubmitted their applications sparked a rally in the world’s largest digital asset.
• Both Bitcoin and Ethereum continues to attract attention and investment from traders and investors alike.
Bitcoin & Ethereum Price Status
Bitcoin price crossed the $31,000 mark, while Ethereum is nearing the $2,000 milestone. BlockRock and other several companies refiled the Bitcoin ETF application. The king of the global crypto market Bitcoin crossed an impressive $31,350 range. Similarly, the second largest cryptocurrency Ethereum nearing the $2K mark. At the time of writing, BTC traded at $31,021.58 with a 24 hour trading volume of $16 billion, surged over 38%. Over the course of a single day, BTC price surged by more than 1.5%, and over the span of a week it recorded a 3% increase since beginning of year also witnessed an impressive surge of over 89%. On other hand ETH traded at $1,955.40 displaying 24-hour trading volume of $6.7 billion in past 7 days price rose by 4.5% since beginning 2023 has experienced significant increase 63%.
The surge in Bitcoin’s price can be attributed to renewed interest generated by several prospective ETF issuers who resubmitted their applications which sparked rally world’s largest digital asset BTC price surpassed 31K level reached 31K 350 similarly ETH price climbed 1 980 which highest April 17th this development indicates wave optimism interest cryptocurrency market both Bitcoin Ethereum continue attract attention investment traders investors alike .
Applications for ETF
Several companies refiled their applications for a bitcoin exchange-traded fund (ETF). This development ignited speculation that approval could come soon from US regulators such as Securities Exchange Commission (SEC). A bitcoin ETF would allow institutional investors to get exposure to bitcoin without having to buy it directly or through derivatives contracts like futures or options contracts .
If approved this will have potential impact on markets as some industry insiders predict prices could skyrocket create huge amounts volatility leading new all-time highs meanwhile analysts believe instead causing sudden jump prices would only cause slight increases demand .
Bull Market Coming?
These remarkable price rallies indicate renewed wave optimism interest cryptocurrency market both Bitcoin Ethereum continue attract attention investment traders investors alike it remains seen how far these two cryptos go next key factor approval bitcoin ETF SEC will decide fate cryptocurrencies coming weeks months ahead .