{"id":556676,"date":"2023-10-24T03:20:50","date_gmt":"2023-10-24T03:20:50","guid":{"rendered":"https:\/\/ktsl888.com\/?p=556676"},"modified":"2024-06-11T08:33:51","modified_gmt":"2024-06-11T08:33:51","slug":"bitcoin-price-crosses-35000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-crosses-35000\/","title":{"rendered":"Bitcoin Price Crosses $35,000, Here\u2019s Why"},"content":{"rendered":"

The Bitcoin price barreled past the $35,000 level on multiple exchanges about an hour ago and has continued to maintain impressive bullish momentum. The reason for the surge is once again tied back to the anticipation around a potential approval of the BlackRock Spot Bitcoin ETF<\/a> and the expectations of it triggering a bull market.<\/p>\n

BlackRock Spot Bitcoin ETF Listing Surfaces<\/h2>\n

The Bitcoin price rally was triggered by an image that has been circulated many times on social media platforms such as X (formerly Twitter) showing that the BlackRock iShares Bitcoin Trust<\/a> had been listed on the Depository Trust & Clearing Corporation (DTCC) under the ticker IBTC.<\/p>\n

\"BlackRock<\/div>\n
Source: X<\/a><\/pre>\n

Usually, a listing on the DTCC is taken as a step for ETFs that are ready for approval from the Securities and Exchange Commission (SEC). Additionally, BlackRock, which is the largest asset management company in the world, reportedly told the regulator that it plans to seed its Spot Bitcoin ETF<\/a> in October. So the asset manager looks to be readying for an October launch<\/a> as well.<\/p>\n

Related Reading: ARK Invest\u2019s Cathie Wood Reveals Why Bitcoin Will Reach $1.48 Million<\/a><\/p>\n

As Bloomberg Analyst Eric Balchunas explains<\/a>, \u201cSeeding an ETF is when initial funding is provided (typically) by a bank or broker dealer used to purchase a few creation units (in this case bitcoin) in exchange for ETF shares which can be traded in open market on Day One.\u201d<\/p>\n

It should be noted that just because an ETF is listed on the DTCC does not mean that it will gain immediate approval. Some ETFs will sit on the DTCC for months or years at a time before gaining approval to trade, while some simply never launch. However, given BlackRock\u2019s influence<\/a>, expectations are the company is doing this in preparation for approval.<\/p>\n

\"Bitcoin<\/p>\n

BTC price crosses $35,000 briefly | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n

Following The Bitcoin Price Growth Trend<\/h2>\n

The Bitcoin price increase has been mostly an \u2018up-only\u2019 trend with some pits and stops along the way. In the last 24 hours, the digital asset is already up over 14% with other metrics following swiftly behind such as market cap and daily trading volume.<\/p>\n

Bitcoin\u2019s daily trading volume jumped over 257% since the rally began, currently sitting at $44.7 billion. Likewise, the Bitcoin open interest<\/a> has seen a 6.36% increase across all exchanges, bringing total open interest to $15.05 billion at the time of writing.<\/p>\n

Related Reading: Cardano (ADA) Getting Ready To Explode: Analyst Presents 16,500% Blowout<\/a><\/div>\n

The Bitcoin Fear & Greed Index has also jumped to a six-month high, flashing a very greedy 66. This means that investors are more willing to jump into the digital asset and the evidence of this is in its rising daily trading volumes, as mentioned above.<\/p>\n

The Bitcoin price has since retraced from the $35,000 level but continues to trade just above $34,500 where the bulls seem to have established support. A successful retest of the $35,000 resistance would set the Bitcoin price on a path to $40,000<\/a>.<\/p>\n

Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from CryptoSlate, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price barreled past the $35,000 level on multiple exchanges about an hour ago and has continued to maintain impressive bullish momentum. The reason for the surge is once again tied back to the anticipation around a potential approval of the BlackRock Spot Bitcoin ETF and the expectations of it triggering a bull market. BlackRock Spot Bitcoin ETF Listing Surfaces The Bitcoin price rally was triggered by an image that has been circulated many times on social media platforms such as X (formerly Twitter) showing that the BlackRock iShares Bitcoin Trust had been listed on the Depository Trust & Clearing Corporation (DTCC) under the ticker IBTC. Source: X Usually, a listing on the DTCC is taken as a step for ETFs that are ready for approval from the Securities and Exchange Commission (SEC). Additionally, BlackRock, which is the largest asset management company in the world, reportedly told the regulator that it plans to seed its Spot Bitcoin ETF in October. So the asset manager looks to be readying for an October launch as well. Related Reading: ARK Invest\u2019s Cathie Wood Reveals Why Bitcoin Will Reach $1.48 Million As Bloomberg Analyst Eric Balchunas explains, \u201cSeeding an ETF is when initial funding is provided (typically) by a bank or broker dealer used to purchase a few creation units (in this case bitcoin) in exchange for ETF shares which can be traded in open market on Day One.\u201d It should be noted that just because an ETF is listed on the DTCC does not mean that it will gain immediate approval. Some ETFs will sit on the DTCC for months or years at a time before gaining approval to trade, while some simply never launch. However, given BlackRock\u2019s influence, expectations are the company is doing this in preparation for approval. BTC price crosses $35,000 briefly | Source: BTCUSD on Tradingview.com Following The Bitcoin Price Growth Trend The Bitcoin price increase has been mostly an \u2018up-only\u2019 trend with some pits and stops along the way. In the last 24 hours, the digital asset is already up over 14% with other metrics following swiftly behind such as market cap and daily trading volume. Bitcoin\u2019s daily trading volume jumped over 257% since the rally began, currently sitting at $44.7 billion. Likewise, the Bitcoin open interest has seen a 6.36% increase across all exchanges, bringing total open interest to $15.05 billion at the time of writing. Related Reading: Cardano (ADA) Getting Ready To Explode: Analyst Presents 16,500% Blowout The Bitcoin Fear & Greed Index has also jumped to a six-month high, flashing a very greedy 66. This means that investors are more willing to jump into the digital asset and the evidence of this is in its rising daily trading volumes, as mentioned above. The Bitcoin price has since retraced from the $35,000 level but continues to trade just above $34,500 where the bulls seem to have established support. A successful retest of the $35,000 resistance would set the Bitcoin price on a path to $40,000. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from CryptoSlate, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":556678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,7720,89215,89704,1119,89185,1122,1144,78790,89193,84647],"class_list":["post-556676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-blackrock","tag-blackrock-news","tag-blackrock-spot-bitcoin-etf","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-etf-news","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\nBitcoin Price Crosses $35,000, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"The 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Crosses $35,000, Here\u2019s Why","url":"http:\/\/ktsl888.com\/news\/bitcoin-price-crosses-35000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-price-crosses-35000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-price-bull.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-price-bull.png?fit=600%2C315"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","blackrock","blackrock news","blackrock spot bitcoin etf","btc","btc news","btc price","btcusd","btcusdt","etf news","spot bitcoin etf"],"dateCreated":"2023-10-24T03:20:50Z","datePublished":"2023-10-24T03:20:50Z","dateModified":"2024-06-11T08:33:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Crosses $35,000, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-crosses-35000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-crosses-35000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Bitcoin-price-bull.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Bitcoin-price-bull.png?fit=600%2C315\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"blackrock\",\"blackrock news\",\"blackrock spot bitcoin etf\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"etf news\",\"spot bitcoin etf\"],\"dateCreated\":\"2023-10-24T03:20:50Z\",\"datePublished\":\"2023-10-24T03:20:50Z\",\"dateModified\":\"2024-06-11T08:33:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-price-bull.png?fit=600%2C315","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/556676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=556676"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/556676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/556678"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=556676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=556676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=556676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}