$BTC $ETH Ethereum surged 20% overnight!
This morning, the cryptocurrency market rebounded. Bitcoin, the largest cryptocurrency by market value, surged from $66,800 at the opening of the day to $71,248. The price of Ethereum ($ETH), the king of altcoins, also rose from $3,143 in just a few hours. Climbing up, reaching a maximum of $3,710, a one-day surge of over 20%.
Behind today's market rise is the hope that the Ethereum spot ETF will pass. According to foreign media "Coindesk" citing sources familiar with the matter, the U.S. Securities and Exchange Commission (SEC) has changed its attitude and is requiring exchanges to "accelerate" updates to its 19b-4 Documentation.
However, as of the time of writing, a spokesman for the SEC did not immediately respond to the news.
Bloomberg analysts raise odds
The revelations from "Coindesk" were not the main factor causing the market rebound. Before the Bitcoin spot ETF was cleared in the past, there were also cases where the foreign media "Cointelegraph" released false information, or the SEC social account was "stolen", causing prices to rise and then fall quickly. Case.
The difference this time, however, is that many industry figures who had been skeptical about the U.S. Securities and Exchange Commission’s (SEC) approval of spot Ethereum ETFs, including Bloomberg analysts Eric Balchunas and James Seyffart, confirmed the news.
Bloomberg analyst Eric Balchunas said that in the past, almost everyone thought it would be rejected this time, but he heard some discussions this afternoon that the SEC's attitude may make a 180-degree change based on "political factors." To this end, James Seyffart And he has increased the probability of Ethereum spot ETF approval from 25% to 75%.