Why Is Bitcoin (BTC) Moving Up?

The recent rally in Bitcoin’s price over the last week can be attributed to several factors:

Optimism Around Bitcoin ETF Approval:

The cryptocurrency markets, especially Bitcoin BTC/USD, have experienced a boost due to optimism surrounding the potential approval of a Bitcoin Exchange Traded Fund (ETF) in the US​.

The speculation around the Bitcoin ETF has been building up, with a notable instance on October 16th when a false news report regarding the approval of a Blackrock ETF led to a brief price jump.

Financial institutions are showing increased interest in providing access to Bitcoin investing to their clients through ETFs. The expectation of a fully-fledged…

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