Hassan Maishera
TL;DR
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Bitcoin is up by more than 1% in the last 24 hours and is close to the $31k level.
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The positive performance comes as more financial institutions show interest in Bitcoin and the broader crypto market.
Bitcoin Eyes $31k For The Second Time This Week
The number one cryptocurrency by market cap has been performing well since the start of the week. Over the last 24 hours, Bitcoin took it up a notch and added more than 1% to its value.
At press time, the price of Bitcoin stands at $30,751, up by 1.4% in the last 24 hours. The positive performance comes as more institutional investors show interest in Bitcoin and the broader cryptocurrency market.
Fidelity, one of the leading asset management firms in the world, filed for a spot Bitcoin exchange-traded fund (ETF), making it the second multi-trillion-dollar asset manager to do so this month.
The rally comes despite Binance, the world’s leading cryptocurrency exchange by trading volume, experiencing regulatory troubles in recent weeks. Binance’s EUR banking partner, Paysafe Payment Solutions Limited, has revealed that it would stop supporting the cryptocurrency exchange after September 25.
The cryptocurrency exchange was also denied an operating license in Germany, resulting in a tough week for the company.
Bitcoin Cash continued its upward rally, adding more than 35% to its value in the last 24 hours. BCH is now up by more than 110% this week and is trading above the $300 mark for the first time in more than a year.
Solana and Litecoin are the best performers amongst the top 10 cryptocurrencies by market cap, adding 14% to their values over the past few hours. The total cryptocurrency market cap now stands at $1.19 trillion, up by 2% in the last 24 hours.
