Bitcoin Surges Past $30,000 Amid ETF Hopes But Risks Remain, Says Bloomberg’s McGlone

With the ripple effect caused by Spot Bitcoin ETF applications from major asset management firms such as BlackRock and WisdomTree, the leading cryptocurrency Bitcoin (BTC) surpassed $30,000 after registering gains within days. However, despite increased expectations of a market uptick, Bloomberg’s Macro Strategist Mike McGlone suggests that under the present economic conditions, downside risks for BTC and the cryptocurrency market persist. Will Bitcoin’s Rise Continue? The leading cryptocurrency Bitcoin (BTC) has recently captured a robust upward momentum and managed to exceed the $30,000 price levels with its latest value increases. Most altcoins in the crypto market recorded substantial value increases during this period. Following its latest value increases, Ethereum (ETH) started trading around $1894, significantly approaching the $1900 levels. The total market value of the cryptocurrency ecosystem has reached $1.17 trillion levels according to CoinMarketCap (CMC) data. Spot Bitcoin ETF requests from major asset management firms in quick succession have […] The post Bitcoin Surges Past $30,000 Amid ETF Hopes But Risks Remain, Says Bloomberg’s McGlone appeared first on COINTURK NEWS.