Why Did Bitcoin Price Soar To $36,800?

Why Did Bitcoin Price Soar To $36,800?

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.

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Seyffart further pointed out that the SEC has the opportunity to approve 9 applications (excluding Global X Bitcoin Trust, Hashdex Bitcoin ETF, and Franklin

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