{"id":26687,"date":"2023-06-23T18:28:47","date_gmt":"2023-06-23T22:28:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/bitcoin-rises-past-31000-highest-level-in-a-year\/"},"modified":"2023-06-23T18:28:48","modified_gmt":"2023-06-23T22:28:48","slug":"bitcoin-rises-past-31000-highest-level-in-a-year","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26687","title":{"rendered":"Bitcoin rises past $31,000, highest level in a year"},"content":{"rendered":"
\n

Bitcoin
\n BTCUSD,
\n -1.26%<\/bg-quote>
\n was trading at $31,082 on Friday afternoon, after peaking earlier in the session at $31,410 or the highest level for 2023, according to CoinDesk data. <\/p>\n

Bitcoin is up 81% since the start of the year, according to CoinDesk. Yesterday, it topped $30,000 for the first time since April. However, the cryptocurrency is still far from its peak of above $65,000 in November 2021.<\/p>\n

\n

The rally comes despite a month of regulatory crackdowns across the crypto industry, including the U.S. Securities and Exchange Commission suing crypto exchange Binance and Coinbase
\n COIN,
\n +6.92%<\/bg-quote>.<\/span>\n <\/p>\n

Regulators alleged earlier this month that Binance was operating an illegal exchange and diverted investors\u2019 funds into a trading entity controlled by chief executive Changpeng Zhao. The SEC also alleged that Coinbase operated its crypto asset trading platform as\u00a0an unregistered national security exchange\u00a0and broker.<\/p>\n

However, last week, BlackRock
\n BLK,
\n +0.16%<\/bg-quote>,<\/span>
\n \u00a0the world\u2019s largest asset manager, filed an application for a spot bitcoin exchange-traded fund. Following that Wisdom Tree
\n WT,
\n -1.59%<\/bg-quote>
\n and Invesco
\n IVZ,
\n -1.05%<\/bg-quote>
\n also re-submitted applications to start spot bitcoin ETFs, after getting rejected by the U.S. Securities and Exchange Commission previously for their earlier applications.\u00a0<\/p>\n

\u201cThe use case for cryptos is slowly making progress as JPMorgan has expanded their blockchain-based token to euro payments,\u201d said Edward Moya, senior market analyst at OANDA, in a note. \u201cBitcoin\u00a0is hovering around the $30,000 region and traders are becoming optimistic that a path to $40,000 is forming.\u00a0 With a de-risking moment occurring on Wall Street, it is rather impressive how the crypto trade is holding up.\u201d<\/p>\n

Meanwhile, a new crypto exchange, called EDX Markets, backed by several Wall Street heavyweights such as Charles Schwab
\n SCHW,
\n -0.08%<\/bg-quote>,<\/span>
\n \u00a0Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, Virtu Financial, started operations. <\/p>\n

\u00a0See<\/strong>: Wall Street firms double down on crypto after SEC sues Binance, Coinbase <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin BTCUSD, -1.26% was trading at $31,082 on Friday afternoon, after peaking earlier in the session at $31,410 or the highest level for 2023, according to CoinDesk data. Bitcoin is up 81% since the start of the year, according to CoinDesk. Yesterday, it topped $30,000 for the first time since April. However, the cryptocurrency is […]<\/p>\n","protected":false},"author":1,"featured_media":4965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-26687","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBitcoin rises past $31,000, highest level in a year | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin BTCUSD, -1.26% was trading at $31,082 on Friday afternoon, after peaking earlier in the session at $31,410 or the highest level for 2023,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=26687\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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