Crypto Price Today: Bitcoin soars over 7% ahead of ETF approval deadline. Solana, BNB gain up to 15%
BNB, XRP, Dogecoin, Cardano, Avalanche, Toncoin and Tron soared up to 15%.
Crypto markets rallied in anticipation of imminent approvals by the US SEC regarding spot bitcoin exchange-traded funds (ETFs). Crypto markets surged over 6% overnight reacting to the US SEC Chairman’s tweet about crypto investing, Vikram Subburaj, CEO, of Giottus Crypto Platform said, attributing the development to the uptick in major cryptos.
Bitcoin briefly breached $47,000 for the first time since April 2022 and is looking set for a push towards $50,000 if spot ETF approvals come in this week, he opined. In his view, BTC dominance has increased to 54.5% indicating strong performance of the top crypto asset lately. Any euphoric rally from here could lead to a correction later, he warned investors as he advised them to remain cautious of the market volatility over the next 7 days.
The crypto market's total market capitalisation has crossed the $1.8 trillion mark according to Coinswitch data which said that the crypto fear and greed index remains highly positive, jumping by 6 points as compared to Monday.
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View Details»The market has reacted positively to the tweet after a slight dip to nearly $43,000 on Tuesday morning. For Bitcoin $48,000 is a major resistance just before the very important psychological figure of $50,000k, according to Coinswitch which also viewed ETF approval as a «huge positive» for the industry, though it expects volatility to rise at least till Wednesday.
On the prospects of Bitcoin, Edul Patel, CEO of Mudrex said that «BTC has maintained
