{"id":30917,"date":"2023-07-03T15:27:50","date_gmt":"2023-07-03T19:27:50","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-price-rises-as-crypto-traders-brush-off-blackrock-etf-fears\/"},"modified":"2023-07-03T15:27:51","modified_gmt":"2023-07-03T19:27:51","slug":"bitcoin-price-rises-as-crypto-traders-brush-off-blackrock-etf-fears","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30917","title":{"rendered":"Bitcoin Price Rises as Crypto Traders Brush Off BlackRock ETF Fears"},"content":{"rendered":"
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\n Bitcoin
\n and other cryptocurrencies rose on Monday, advancing into the second half of 2023 after a historically strong first six months of the year. Crypto traders are brushing off worries around the approval of Bitcoin exchange-traded funds in the U.S.<\/p>\n

The price of Bitcoin climbed 0.5% over the past 24 hours to above $30,650, remaining above the psychologically important $30,000 level but shy of the largest digital asset\u2019s recent peak\u2014and one-year high\u2014near $31,500.<\/p>\n

\n

\u201cThe focus has been on a Bitcoin ETF approval in the U.S., but it is unclear how long it will take to get that update, with end of summer being most likely,\u201d said Edward Moya, an analyst at broker Oanda. \u201cBitcoin trades around the $31,000 level, but a fresh catalyst is needed to spark bullish momentum above the $34,000 level.\u201d<\/p>\n

Indeed, the recent focus for digital asset investors has been applications by
\n BlackRock
\n (ticker: BLK) and other mainstream financial giants for spot Bitcoin exchange-traded funds (ETFs). If approved, these funds would likely usher in a new wave of retail interest in crypto and also herald significant participation in digital assets by some of the biggest names in finance.<\/p>\n

Bitcoin, which rose more than 80% in the first half of 2023, made its latest leg higher on the back of ETF optimism. But some of that hope came undone last Friday after a report from The Wall Street Journal that the Securities and Exchange Commission has told exchanges that the applications are inadequate. Cryptos initially traded lower, but Bitcoin investors now appear to have shaken off the report.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014rose 2.5% to above $1,950. Smaller cryptos or altcoins were also higher, with both
\n Cardano
\n and
\n Polygon
\n up near 3%. Memecoins were more muted, with
\n Dogecoin
\n and
\n Shiba Inu
\n climbing 1% each.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

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

Bitcoin and other cryptocurrencies rose on Monday, advancing into the second half of 2023 after a historically strong first six months of the year. Crypto traders are brushing off worries around the approval of Bitcoin exchange-traded funds in the U.S. The price of Bitcoin climbed 0.5% over the past 24 hours to above $30,650, remaining […]<\/p>\n","protected":false},"author":1,"featured_media":28168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-30917","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Price Rises as Crypto Traders Brush Off BlackRock ETF Fears | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies rose on Monday, advancing into the second half of 2023 after a historically strong first six months of the year. 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