HomeCryptoBitcoin hits $60K for the first time since April after reports of...

Bitcoin hits $60K for the first time since April after reports of imminent ETF approval

Bitcoin has surpassed the $60,000 mark briefly for the first time since April 2021. The worth has been boosted by reports suggesting a Bitcoin futures ETF is prone to start buying and selling in the United States as early as subsequent week. 

Data from Cointelegraph Markets Pro point out that Bitcoin costs have been on a sluggish grind upward since the starting of this month. Before the upward worth motion started, costs had hovered round $42,000 from Sept. 20 to Oct. 1. The $60,000 mark was first breached on Bitstamp change simply after 5 AM (UTC), and Bitcoin is now simply 7% away from reclaiming its Apr. 14 all-time excessive of $64,804. The worth has since eased barely and at the time of writing, Bitcoin is buying and selling round $59,500.

Bloomberg reported earlier right this moment that sources accustomed to the matter had issued constructive indications that the Securities and Exchange Commission is prone to approve a number of Bitcoin futures ETFs to start buying and selling subsequent week.

Rumors about the imminent approval noticed a worth enhance of about $7,000 over the previous seven days, equating to a 13% enhance from $53,000 to $60,000. The sharpest enhance was over the previous two days, over which time Bitcoin has rallied from about $54,000 as much as the present $60,000 high-water mark.