Bitcoin Is Moving Higher Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Bitcoin (BTC) is trading higher, finding support around $30,000 and resistance just above $31,000. The crypto market surged last month following the launch of the EDX Markets exchange, backed by Charles Schwab, Fidelity, and Citadel Securities. Blackrock's initial application for the first spot Bitcoin ETF in the U.S. was turned down, but an amended application has been submitted. If approved, the Bitcoin ETF would allow investors to get exposure to Bitcoin without having to take custody of the asset.
July 10, 2023 | 9:29 pm
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Bitcoin is trading higher, finding support around $30,000. The potential approval of Blackrock's Bitcoin ETF could further boost its price.
Bitcoin's price is showing positive momentum, and the potential approval of Blackrock's Bitcoin ETF could attract more investors, further driving up its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Coinbase Global Inc is involved in Blackrock's amended application for a Bitcoin ETF, which could boost its relevance in the crypto market.
Coinbase's involvement in Blackrock's Bitcoin ETF application could increase its relevance and attractiveness to investors in the crypto market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70