The Bitcoin price has seen a significant increase of more than 4% within the last 24 hours. The price has risen to $36,800. Several key factors have contributed to this rally.
#1 Spot Bitcoin ETF Buzz
The surge in BTC’s price can be attributed to renewed speculations about the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). Yesterday, Bloomberg’s James Seyffart put out a new note, highlighting that the SEC is in a unique position within the next eight days where they could approve all 12 spot ETF applications, as Bitcoinist reported.
Seyffart further pointed out that the SEC has the opportunity to approve 9 applications (excluding Global X Bitcoin Trust, Hashdex Bitcoin ETF, and Franklin