After the June 27 opening on Wall Street, Bitcoin (BTC) once again attempted to breach the $31,000 mark, as traders looked for the price to continue to rise.

$31,000 returns amid Fidelity Bitcoin ETF rumor

Data from Cointelegraph Markets Pro and TradingView indicated that the price of BTC was increasing after it maintained the $30,000 level.

At the beginning of U.S. trading, there was more good news as asset manager Fidelity Investments apparently readied a submission to introduce its Bitcoin spot-based exchange-traded fund (ETF).

“At first it progresses gradually, but then all of a sudden,” financial commentator Tedtalksmacro remarked in response to the ETF proposals from BlackRock, the world’s biggest asset manager, and other firms.

Despite not yet repeating the gains seen in the prior week, BTC/USD managed to keep most of its advances, with observers optimistic that the bulls will succeed.

“Jelle, a well-known trader, commented that Bitcoin would not drop beneath $30k on that day.”

Jelle stated that even though he was ready for a decrease, he was “not very sure” that it would occur.

Crypto Tony, a fellow trader, questioned the power of the day’s rise, yet still maintained his prediction of reaching $32,000.

Josh Rager, a trader and analyst, stated in a Twitter post that “consolidation was to be anticipated in this situation.”

Coinbase stock rebound sets the tone

Bitcoin diverged from altcoins on daily timeframes, with the major cryptocurrencies by market capitalization mostly stable.

A BTC price indicator is cautioning that Bitcoin investors may liquidate their holdings above $33K.

At the opening, the stock of U.S. exchange Coinbase experienced a 4% gain, reaching a one-month peak.

In spite of the legal pressure from U.S. regulators, Coinbase’s involvement in the BlackRock ETF has been instrumental in turning its fortunes around.

“Tedtalksmacro asserted the day before that what is beneficial for $COIN is also advantageous for BTC and the opposite way around,”

Gary Gensler’s position in jeopardy, BlackRock’s debut Bitcoin ETF and other news: Hodler’s Digest, June 11th to 17th.

Categorized in:

Tagged in: