Bitcoin price briefly reached over $37,000, influenced by market optimism for the pending SEC approval of Bitcoin ETFs.
The SEC is reviewing 12 proposals for Bitcoin ETFs, with decisions expected by November 17, potentially delaying actual product launches.
The price of Bitcoin briefly eclipsed the $37,000 threshold, marking a significant event not observed in the past eighteen months. The surge is seen as a reaction to the buoyant sentiment within the financial markets, as investors eagerly await the U.S. Securities and Exchange Commission’s (SEC) decision on approving spot Bitcoin exchange-traded funds (ETFs).
SEC Decision Spurs Market Optimism
The SEC is reviewing proposals for multiple high-profile spot Bitcoin ETFs, with the investment community looking forward to a positive outcome. The market’s response was immediate, with Bitcoin’s valuation momentarily stepping over the $37,000 mark before receding slightly. The futures market echoed this optimism, as evidenced by the Bi

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