Market Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, Bitcoin Futures CME, Bitcoin, Bitcoin Tracker One XBT Provider. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
, which had been experiencing a gradual recovery for over a month, has managed to pull off a significant breakthrough, overcoming the crucial $28,000 resistance level
This surge in Bitcoin's performance was driven by heightened volatility earlier in the week, sparked by the hotly-anticipated Bitcoin ETF approval news, which turned out to be fake eventually. The market's rapid reaction to this news, originating from a highly respected crypto media source, resulted in a swift ascent of Bitcoin's value from $27,000 to $30,000, representing a remarkable 10% increase.
It is worth noting that this occurrence highlights the market's heightened sensitivity to Bitcoin ETF developments, while also emphasizing the importance of the cryptocurrency finding support in the $28,000 range, even after the initial surge was partially curbed by BlackRock will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well.
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