Bitcoin Gains $17,944 YTD, Breaks 13-Month High Amid ETF Frenzy

  • Bitcoin breaks a 13-month high, reaching nearly $35,000 with a 105% gain YTD.
  • BTC’s 24-hour trading volume surges by 194.67% to $48.5 billion.
  • BlackRock’s Bitcoin ETF listing on Nasdaq sparks optimism for SEC approval.

In the last 24 hours, Bitcoin broke a 13-month high as it exchanged hands at nearly $35,000. According to data from MarketWatch, Bitcoin has gained over $17,944 on a year-to-date (YTD) scale. In terms of percentage, the figure implies Bitcoin has gained over 108% since January this year. Meanwhile, Bitcoin has seen approximately 70% growth since last October.

A screenshot of the Bitcoin YTD chart. Source: Google BTC highlight.

According to data from CoinMarketCap, Bitcoin saw over 194.67% increase in its 24-hour trading volume. Specifically, market participants bought and sold over $48.5 billion of Bitcoin, putting its 24-hour gain at above 11.44%

Notably, this recent uptick in the price of Bitcoin follows increased speculation about the awaiting approval of the first Bitcoin exchange-traded fund (ETF) that tracks the spot price of BTC. In particular, Whale Chart, a crypto influencer account on X, disclosed that the Bitcoin spot ETF of the financial behemoth BlackRock has been listed on Nasdaq, one of the most prominent stock exchanges.

Renowned pro-crypto attorney Jeremy Hogan expressed a bullish sentiment that BlackRock’s Bitcoin ETF being listed on Nasdaq ahead of the U.S. SEC’s approval proves that the regulatory clearance for ETF is inevitable. He said,

“The Bitcoin ETF listing on Nasdaq is only evidence of BlackRock’s confidence that its ETF will be approved by the SEC. It’s like cleaning up your bedroom and making sure your roomie is out of the apartment all night.”

Last week, a fake announcement of the SEC approving BlackRock’s ETF saw the price of Bitcoin breaking above $30k.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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