HomeCoinsBitcoin (BTC)Bitcoin hits $60K for the first time since April after reports of...

Bitcoin hits $60K for the first time since April after reports of imminent ETF approval

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Bitcoin has surpassed the $60,000 mark for the first time since April 2021. The price has been boosted by reports suggesting a Bitcoin futures ETF is likely to begin trading in the United States as early as next week. 

Data from Cointelegraph Markets Pro indicate that Bitcoin prices have been on a slow grind upward since the beginning of this month. Before the upward price action began, prices had hovered around $42,000 from Sept. 20 to Oct. 1st. The $60,000 mark was first breached on Bitstamp exchange just after 5AM (UTC) and Bitcoin is now just 7% away from reclaiming its April 14 all time high of $64,804.

Bitcoin hits $60K for the first time since April after reports of imminent ETF approval

Bloomberg reported earlier today that sources familiar with the matter have issued positive indications that the Securities and Exchange Commission is likely to approve a number of Bitcoin futures ETFs to begin tradin next week.

Rumors about the imminent approval saw a price increase of about $7,000 over the past 7 days, which equated to a 13% increase from $53,000 to $60,000. The sharpest increase has been seen over the past two days, over which time Bitcoin has rallied from about $54,000 up to our current $60,000 high-water mark.

First published here

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