Spurred on by enthusiasm for a forthcoming spot ETF, Bitcoin has catapulted to an 18-month high, surpassing the $37,000 mark Thursday.
The cryptocurrency’s resurgence comes after a period of relative disinterest from mainstream market participants. With most eyes on the trial of disgraced FTX CEO Sam Bankman-Fried, the news was apocalyptic, with major news sources decrying the death of not just Bitcoin but cryptocurrency.
Still, the surge in Bitcoin’s price can be attributed to a combination of factors, including renewed institutional interest, growing adoption, and a favorable macroeconomic climate.
Institutional investors, often considered a significant driving force behind Bitcoin’s…
Read more on BitcoinMagazine