Bitcoin surges above $30,000, reaching a two-month high in a volatile week.
Breaking News: Bitcoin Surges Above $30,000, Marking a 10% Weekly Gain
LONDON (Reuters) – In a stunning development, Bitcoin has skyrocketed above $30,000 for the first time since July, with gains for the week surpassing 10%. This surge comes amidst a backdrop of volatile trading in the world of cryptocurrencies.
Bitcoin, the largest cryptocurrency by circulation, has surged to a high of $30,022, its highest level since July 23. It is currently up 4% for the day.
According to Joseph Edwards, head of research at London crypto firm Enigma Securities, there is no immediate news catalyst for this surge in Bitcoin. The cryptocurrency is well-known for its volatility and the opaqueness of its markets.
The broader financial markets have also been on edge recently. Investor sentiment has been shaken by the war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5%, and concerns about the possibility of higher interest rates for an extended period of time.
This week, Bitcoin markets have been particularly jittery as investors eagerly await news regarding the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF) by major financial firms, including BlackRock.
Crypto investors believe that the approval of such applications could bring a new wave of capital into the asset class.
“Crypto assets are defying the sell-off seen in stocks and bonds, as investors focus on upcoming catalysts, such as a potential SEC approval of a spot ETF,” remarked eToro strategist Ben Laidler.
Earlier this week, Bitcoin experienced a sudden surge before giving up most of its gains after asset manager BlackRock denied a media report claiming that its high-profile ETF application had been approved.
Reporting by Tom Wilson and Elizabeth Howcroft; Editing by Amanda Cooper
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Radical leftist Hamas supporters gather at the Capitol led by Representatives Rashida Tlaib and Cori Bush.
As Iranian-backed Hamas launches attacks on Israel, many believe these actions have the fingerprints of another ally, China.
Bitcoin jumped on Friday above $30,000 for first time since July, taking gains for the week past 10%.
Meta and TikTok have been given a week to provide details on measures taken to counter the spread of terrorist, violent content and hate speech on their platforms.
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While stripping China’s access to key U.S. artificial intelligence chips, the Biden administration’s sweeping new rules also quietly threw Nvidia, Intel and AMD a potential lifeline.
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What are the potential impacts of regulatory approvals and geopolitical events on the future of Bitcoin and other digital assets
Bitcoin Surges Above $30,000, Marking a 10% Weekly Gain
LONDON (Reuters) – In a stunning development, Bitcoin has skyrocketed above $30,000 for the first time since July, with gains for the week surpassing 10%. This surge comes amidst a backdrop of volatile trading in the world of cryptocurrencies.
Bitcoin, the largest cryptocurrency by circulation, has surged to a high of $30,022, its highest level since July 23. It is currently up 4% for the day.
According to Joseph Edwards, head of research at London crypto firm Enigma Securities, there is no immediate news catalyst for this surge in Bitcoin. The cryptocurrency is well-known for its volatility and the opaqueness of its markets.
The broader financial markets have also been on edge recently. Investor sentiment has been shaken by the war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5%, and concerns about the possibility of higher interest rates for an extended period of time.
This week, Bitcoin markets have been particularly jittery as investors eagerly await news regarding the fate of applications with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF) by major financial firms, including BlackRock.
Crypto investors believe that the approval of such applications could bring a new wave of capital into the asset class.
“Crypto assets are defying the sell-off seen in stocks and bonds, as investors focus on upcoming catalysts, such as a potential SEC approval of a spot ETF,” remarked eToro strategist Ben Laidler.
Earlier this week, Bitcoin experienced a sudden surge before giving up most of its gains after asset manager BlackRock denied a media report claiming that its high-profile ETF application had been approved.
Overall, the recent surge in Bitcoin highlights the continued interest and volatility in the world of cryptocurrencies. Investors are closely watching developments in the market, particularly news relating to regulatory approvals and geopolitical events that could impact digital assets.
While Bitcoin has proven to be a lucrative investment for some, it is important to remember the risks associated with such investments. The crypto market, including Bitcoin, can be highly volatile and unpredictable. Investors should exercise caution and do their due diligence before diving into this ever-evolving market.
In conclusion, Bitcoin’s surge above $30,000 represents a significant milestone for the cryptocurrency. Its continued volatility and the potential impact of external factors underscore the importance of staying informed and vigilant in this rapidly changing landscape.
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