Bitcoin Surges Above $30,000, Boosted by Whale Activity and ETF Applications

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, continues its uptick, surpassing the $30,000 level. At the time of writing this article, Bitcoin is trading at $30,325, reflecting a 5.25% increase in the last 24 hours and boasting a market capitalization of $588.65 billion. Concurrently, significant Bitcoin whales are on the move. Current Outlook on Bitcoin The latest price rally in Bitcoin comes amidst a flood of spot Bitcoin ETF applications heading to the U.S. Securities and Exchange Commission (SEC). This trend was triggered by the world’s largest asset management firm, BlackRock, which filed for a spot Bitcoin ETF, propelling Bitcoin’s value by over $100 billion since the application. Since BlackRock’s ETF application, BTC price has surged over 20%. Outperforming all other altcoins, Bitcoin’s dominance over the market has risen above 50%. Differing from previous trends, Bitcoin’s performance has started to show negative correlation with the Nasdaq 100. This […] The post Bitcoin Surges Above $30,000, Boosted by Whale Activity and ETF Applications appeared first on COINTURK NEWS.