fake spotlight BitcoinETF rose above $30,000 with the news BitcoinIt later dropped to $28,000.
Continuing its horizontal movements at the level of $ 28,000 since the beginning of the week BTCrose above $29,000 following the positive developments and positive news yesterday.
The most important of these news are SEC‘of XRPto withdraw allegations against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen in the lawsuit and JP Morgan’s spotlight Bitcoinof ETF It turned out that it could be approved within a few months.
BTC a possible spot in the US BitcoinIt extended its weekly gains to over 9% as sentiment around ETF approval turned bullish.
Along with Bitcoin, increases were also observed in altcoins. The most striking of these is the increase exceeding 12%. Solana (LEFT)with an increase exceeding 28% BitcoinSV (BSV) and with a 20% increase Stacks (STX) happened.
Analyzing the rise, experts say SEC’s court decision Grayscale He said that not objecting to the decision was also effective.
Speaking to Coindesk at this point, Metalpha’s senior investor Lucy Hu said:
“Bitcoin is also encouraged by possible ETF approval and the growing number of ETF applications from leading companies.
The SEC chose not to appeal Grayscale’s decision, and as the deadline for BTC spot ETF applications from institutions like Blackrock approaches, the market’s confidence in ETF approval has increased.
“At this point, with the Bitcoin ETF approval and the halving event in April, the crypto market could start a very strong bull market.”
BTC continues to trade at $29,440 at the time of writing.
*This is not investment advice.
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