LIVE๐ Hold on tight! Bitcoin's meteoric rise is no mystery now: Surprising developments from the USA have ignited the market!
#Bitcoin skyrocketed past $70,000 fueled by unexpected news from the USA, triggering even fiercer surges in select cryptocurrencies, notably Ether.
Cryptos are ablaze with sharp upticks tonight, and the top dog $BTC has finally breached the $70,000 mark after a prolonged wait. This time, it's all about Ethereum leading the charge.
But why this sudden surge in Bitcoin?
All eyes were on critical decisions regarding $ETH ETF (exchange-traded fund) applications in the United States this week. Initially anticipated to face rejection, the tide has turned dramatically tonight.
Bloomberg's ETF analysts, known for their spot-on forecasts, have now revised the approval probability from a mere 25 percent to a whopping 75 percent, citing recent developments. This bombshell announcement catapulted Ethereum's value by over 10 percent within minutes, with Bitcoin riding the wave to soar above $70,000.
Eric Balchunas, an esteemed ETF analyst, shared from his personal X account, "James and I are upping our odds on the Ether ETF approval from 25 percent to 75 percent. We got word this afternoon that the SEC might do a 180 on this issue." This game-changing news reverberated positively, spurring investors into action.
With Bloomberg analysts often hitting the mark on Bitcoin ETF predictions, all eyes are now on the SEC's imminent decision, expected no later than Thursday.
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