Bitcoin price has reached its peak in the last year and a half. Crypto assets have surged by double digits on hopes that the first Bitcoin spot Exchange-Traded fund (ETF) will be approved in the US.
After a year and a half, it’s almost like spring has come to crypto. Such a spring weather that the positive news flow in the market was priced more positively than expected. Even though we were in a bear market, increases of 12% at a time were seen to be bullish candles. As a result, the trend also showed an upward direction.
While the $31,000 level, which is considered difficult to break, was easily broken, the Bitcoin price settled in the $34,500 band. Although there may be some withdrawal in the short term, it can be said that there is a strong expectation of exceeding the $40,000 level by the end of the year.
Negative news ignored
While the rise in Bitcoin was also reflected in altcoins, experts said that the market had the fuel it needed to rise on positive news. Traders said that spot ETFs were priced as if they were approved and stated that the negative news flow in the market was ignored for a while, but the cases waiting on the sidelines should not be forgotten.
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