Bitcoin soared to $70,206 at 20:03 GMT on Monday, marking a significant increase of $3,931 from its previous closing value.
The world’s largest and most renowned cryptocurrency has witnessed a remarkable surge, currently up by 82.3% from its yearly low of $38,505 recorded on January 23.
In parallel, Ether, the cryptocurrency associated with the ethereum blockchain network, experienced a notable uptick of 13.3% on Monday, reaching $3500.
The approval and subsequent launch of spot bitcoin exchange-traded funds (ETFs) in the United States this year have notably broadened the accessibility of this asset class to new investors. This development has reignited the enthusiasm that waned during the “crypto winter” of 2022 when cryptocurrency prices experienced a significant downturn.
The introduction of these ETFs has infused fresh optimism into the cryptocurrency market, attracting a renewed wave of interest and investment. This resurgence in confidence underscores the resilience of cryptocurrencies and highlights their growing acceptance as a legitimate investment avenue.
