Bitcoin remains above US$30,000, despite hawkish remarks from Powell
Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.
Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.
Bitcoin dropped but remained above US$30,000, with all other major cryptocurrencies falling, as investors reacted to news of MicroStrategy’s Bitcoin purchase and ARK Invest’s spot Bitcoin ETF plan.
Despite a slight dip in crypto prices, positive investor sentiment persists, buoyed by the potential of Bitcoin ETFs, rising institutional adoption, and recovery from regulatory concerns.
Bitcoin rose along with other major cryptocurrencies. Fidelity reportedly plans a second spot Bitcoin ETF application in the U.S. following BlackRock’s move earlier this month. A strong day on Wall Street also offered support.
Bitcoin slipped 0.04% but remained above US$30,000. Ether fell 0.97% to US$1,875.
Bitcoin Cash, the spin-off of the world’s largest cryptocurrency, gained over 108% in the last seven days as investors hope the altcoin receives the same categorization as Bitcoin.
Bitcoin slipped in directionless trading while Ether retreated, but both held gains for the past seven days. Most other top 10 tokens lost ground, led by Solana, while Tron was in the green as markets entered the last trading week of June.
Bitcoin prices drop 1.04% to US$30,416 in 24 hours, while Ether fell 0.98% to US$1,893.
Bitcoin held ground above US$30,000 following a week of traditional financial institutions showing interest in financial instruments that include the token. The U.S. regulator approved the first leveraged Bitcoin Futures ETF on Friday.
Bitcoin shrugged off Prime Trust’s cease order, as risk appetite was bolstered by several TradFi alumni entering the crypto space this week. Could we see more spot Bitcoin ETF applications next week?