Coinspeaker
Bitcoin Sets New High Following Traditional Exposure to Crypto from BlackRock, Others
Bitcoin (BTC) has hit a new high of $28,170.18 not seen since May, after climbing more than 5% on Tuesday. The world’s largest cryptocurrency gained more than 9% in the past 7 days, with Ether (ETH) also rising nearly 3% to $1,781,
According to data from CoinGlass, the spike caused liquidations worth $36.6 million in 24 hours for traders with short positions. The short squeeze is also a new record, the largest seen since May 28.
Bitcoin is performing satisfactorily despite the regulatory turmoil recently witnessed by the crypto sector. The coin’s rise comes as several major traditional financial services firms are softening their aversion to crypto and embracing digital assets.
Bitcoin Hit New High Courtesy BlackRock and Others
American investment company and asset management giant BlackRock (NYSE: BLK) applied for a spot Bitcoin exchange-traded fund (ETF) with the US Securities and
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