Bitcoin Prices Today: The price of cryptocurrencies continues to rise on Saturday. The global cryptocurrency market cap stands at $2.48 trillion, up 4.52 per cent since Friday. At the same time, the volume of the crypto market has been $132.29 billion in the last 24 hours. An increase of 34.73 per cent has been seen in this.
Prices crossed $60,000 on Friday.
Currently, the price of bitcoin is $61,348. Bitcoin price crossed the $60,000 level on Friday, which was close to its all-time high. This is because there are expectations that US regulators will approve futures-based exchange-traded funds (ETFs), which will help open the way for more significant investments in digital assets.
Cryptocurrency investors await the approval of the first US ETF for bitcoin. There has been an uptick in the expectations of this move only recently.
The world’s largest cryptocurrency was trading higher at $61,869.05, the highest since its record high in mid-April. And finally, it saw a jump of 6.9 per cent. This has increased by more than half after September 20. And it is approaching the record high of $64,895 achieved in April.
What is the reason behind the rise in bitcoin?
The US Securities and Exchange Commission (SEC) is preparing to allow trading of the first US bitcoin futures ETF to begin next week. This information was given in a Bloomberg report on Thursday. Traders and analysts believe that this move will open new avenues for investors in emerging assets.
Experts say that crypto ETFs cannot be stopped. Such a product will come eventually because there is a demand for it. He believes that regulators will soon approve a version of the crypto ETF, expected by Monday. He believes that regulators are becoming more practical with this; the SEC has started to understand how these assets are stored and secured to take their place in traditional finance.