Bitcoin’s price rose above $37,000 in the trading session for the first time since May 4, 2022. This is proven by site data Coinsk.
As of 17:12 Moscow time, the Bitcoin price exceeded $ 37,658 (+6.32%). Since the beginning of the year, the cryptocurrency has increased by 127%.
Experts link subtract Bitcoin has a positive news history. In particular, investors were pleased with news that the U.S. Securities and Exchange Commission had begun negotiations with Grayscale on an ETF and the possibility of approval of similar ETFs from twelve more companies.
Due to the rapid rise in prices on the largest crypto exchanges, there has been a massive liquidation of the positions of traders who were speculating on a decline in Bitcoin. By site coin glassTheir total losses for the day were over $160 million.
However, JPMorgan representatives expressed doubts about the sustainability of the current rally. In their view, expectations from ETFs may clearly be overestimated.
They started before this known Conditions for Bitcoin to grow tenfold.
Previously in Russia connected The value of Bitcoin increases with speculative demand.