BREAKING: Bitcoin (BTC) Hit $30,000 Amid The Institutional Support

Key Points:

• Bitcoin (BTC) breaks price records in 2023, surpassing $30,000 for the second time.
• Institutional giants such as BlackRock and Invesco file for spot Bitcoin ETFs, signaling growing institutional interest.
• The launch of EDX crypto exchange, backed by major financial players, amplifies Bitcoin’s momentum and boosts Bitcoin Cash.

Bitcoin (BTC) reaches $30,000 again, hitting price highs since 2022. BTC gained 22% in the last month. TradFi giants file for Bitcoin ETFs, while EDX crypto exchange backed by Fidelity, Schwab, and Citadel launches with multiple tokens. Bitcoin Cash (BHC) also rallies, up 25%

Bitcoin, the largest cryptocurrency by market cap, has recently surged significantly to the $30,000 mark for the second time since mid-2022, as shown by TradingView data.

As of the time of writing, the king of crypto is trading around $29,800, indicating a notable price rally in recent days. This surge follows a similar achievement in April, and the cryptocurrency has witnessed gains of nearly 22% over the past 30 days. These impressive developments in Bitcoin’s value coincide with significant moves in the traditional finance sector, as several industry giants have sought to establish Bitcoin-related investment offerings.

Prominent players in the traditional finance industry, including BlackRock, Invesco, and WisdomTree, have recently filed applications for spot Bitcoin exchange-traded funds (ETFs). This move reflects a growing institutional interest in the cryptocurrency space and demonstrates a recognition of Bitcoin’s potential as a legitimate investment asset.

Additionally, the launch of the EDX crypto exchange further supports this trend. Backed by major traditional finance entities such as Fidelity Digital Assets, Charles Schwab, and Citadel Securities, EDX offers a range of tokens including Bitcoin, Ether, Bitcoin Cash, and Litecoin.

Positive Impacts on Bitcoin Cash (BHC): Bitcoin’s price rally has not only benefitted Bitcoin itself but also had a positive impact on other cryptocurrencies. Bitcoin Cash (BHC) has experienced a significant surge of 25% following the news of these institutional moves. This underscores the interconnected nature of the cryptocurrency market and the potential spillover effects between different digital assets.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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