BTC price hits $56K as bulls return and talk focuses on Bitcoin ETF approval

BTC price hits $56K as bulls return and talk focuses on Bitcoin ETF approval


Bitcoin (BTC) returned to beat the week’s four-month highs on Oct. 8, climbing $2,000 in two hours.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC’s price beats Wednesday’s high

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting just over $56,150 on Bitstamp in a fresh show of bullish momentum.

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Wednesday’s dramatic uptick had topped out at $55,800, this remaining the level to beat as the pair then spent Thursday consolidating.

I think we have another $BTC pump coming right away.

A brutal one, if I must say.

— Galaxy (@galaxyBTC) October 7, 2021

Amid anticipation of fresh upside from traders, talk beyond price action continued to focus on the likelihood of an exchange-traded fund (ETF) approval from United States regulator — and its implications.

As Cointelegraph reported, confidence is high that a futures-backed

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