BTC hits $ 60,000 as SEC-approved ETF rumors spread

BTC hit $ 60,000 for a short time as rumors of an upcoming Bitcoin ETF mount, as we previously retweeted on our Bitcoin news.

Bitcoin Futures Trading ETF can start trading in the US next week, according to Bloomberg reports, and reports say the SEC could approve Bitcoin Futures ETF as soon as next week for BTC to hit $ 60,000 according to the news. Citing people familiar with the matter, Bloomberg says the Securities and Exchange Commission has changed its stance on ETF approval. The agency has turned down countless requests for an exchange-traded fund tracking BTC activity over the past few years, but sources claim the commission is unlikely to block an upcoming Bitcoin futures ETF next week.

The specific product approved is an application from Invesco and ProShares and is based on futures contracts. SEC Chairman Gary Gensler claims that futures options offer great investor protection as these contracts are filed under mutual fund rules. It’s worth noting that the number of BTC ETF applications has skyrocketed in an S this year after some approvals in Brazil and Canada. Bloomberg senior strategist Mike McGlone noted that the committee will approve the BTC futures ETF later this month. Shortly after the report came out, the price of the cryptocurrency reacted by spiking between $ 57,000 and $ 60,000, bringing BTC to the $ 60,000 mark for the first time since May.

As recently reported, Ripple, Polkadot, Dogecoin, Solana, Terra and Uniswap as well as Litecoin and Avalanche have continued to lose value for a day. XRP is $ 1.10 while SOL is $ 143. DOGE fell below $ 0.23 while LUNA fell below $ 40 and UNI fell below $ 23. Even more losses were seen from Altcoins, such as Ren down 15%, IOTA down 12% and THORChain down 11%. THETA also loses 10% and Avalanche drops by 10%. However, the market fell about $ 60 billion in a single day, but managed to support another $ 2.3 trillion.

BTC hits $ 58,000 and its performance is in contrast to altcoins in recent days.

This is supported by the growing dominance of BTC, which hit a two-month high of 47%. For reference only, this metric fell below 44% two weeks ago and the top digital asset is slowly gaining ground but has seen some appreciation since topping $ 50,000. it rebounded to $ 55,000 and hit $ 56,000 in the next few days to hit a new 5-month high.

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