😱🫨The reason for Bitcoin's rise has become clear: Unexpected news from the USA
#Bitcoin rose above 70 thousand dollars with the news from the USA. There are tougher rises in some cryptocurrencies, especially Ether.
Cryptocurrencies are experiencing sharp rises in the evening. The number one cryptocurrency $BTC also left behind 70 thousand dollars after a long time. This time the rise was due to Ethereum.
Why is Bitcoin rising?
A decision on $ETH ETF (exchange-traded fund) applications in the United States was expected in a critical week for cryptocurrencies. In the decision, which is expected to be announced by May 23, the expectation was that the applications would be rejected. Things have completely changed as of tonight.
Bloomberg ETF analysts announced that they have revised the probability of approval, which they previously announced as 25 percent, to 75 percent based on recent developments. This announcement brought an increase of more than 10 percent in Ethereum within minutes. Bitcoin also took its share from the positive weather and rose above 70 thousand dollars.
Eric Balchunas, one of the ETF analysts, said in a statement from his personal X account, "James and I are increasing our probability estimate of the spot Ether ETF approval from 25 percent to 75 percent. We received information this afternoon that the SEC may swing 180 degrees on this issue.” he used his expressions. The news, which had a great echo in a positive direction, led investors to buy.
Bloomberg analysts are known for their accurate predictions about Bitcoin ETF applications. The SEC is supposed to announce its final decision no later than Thursday.
