Why Bitcoin Rose: $44K Exceeded with Ethereum Support! - Coin Newsletter

The market movement triggered by Ethereum (ETH) also led to Bitcoin (BTC) rising above $44K weeks later.

Investment firms Ark Invest** and 21Shares's change to spot Ethereum exchange-traded funds (ETFs) has sparked a bullish trend in the cryptocurrency market. The new compliance update submitted by companies to the US Securities and Exchange Commission (SEC) has brought significant increases in many assets, especially Bitcoin.

According to CoinGecko data, Bitcoin, which rose 4.5% due to the news flow, saw 44,692 dollars for the first time since January 12. Ethereum, on the other hand, rose 3.8% to $2,442.

Although the U.S. Securities and Exchange Commission (SEC) has so far postponed its decision on all spot Ethereum ETF applications to a later date, such positive developments in the process continue to reflect positively on the market. All eyes are on May 23, 2024 for spot Ethereum ETFs.

The cryptocurrency market continues its bullish momentum with the Bitcoin halving in April, the US Federal Reserve's (FED) possible interest rate cut in May**, and the growing expectation of a spot Ethereum ETF.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)