Hassan Maishera
TL;DR
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Bitcoin rallied by more than 1% in the last 24 hours to reach the $31k mark.
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The positive performance comes as Spot Bitcoin ETF issuers refile their applications.
Bitcoin Surpasses $31k Again
Bitcoin, the number one cryptocurrency in the world, has started the new month in a positive fashion. After its positive performance over the weekend, Bitcoin has maintained its momentum and topped the $31k mark a few hours ago.
BTC is up by more than 1% in the last 24 hours and is now trading above $31,000 once again. The positive performance comes as numerous spot Bitcoin ETF issuers refile their applications with the US SEC.
The world’s largest asset management firm, BlackRock, refiled its spot Bitcoin ETF application a few hours ago, naming Coinbase as its surveillance-sharing partner. The partners are supposed to help guard against market manipulation.
Fidelity is another asset manager that has refiled its spot Bitcoin ETF application and also listed Coinbase as its surveillance-sharing partner.
With Bitcoin adding more than 1% to its value in the last 24 hours, other major cryptocurrencies followed suit.
However, Bitcoin Cash is the worst performer amongst the top 20 cryptocurrencies by market cap today. After rallying by more than 100% last week, Bitcoin Cash is retracing some of its gains.
BCH reached the $320 mark over the weekend but is now trading at $284 per coin, down by more than 3% in the last 24 hours. The total cryptocurrency market cap stands at $1.22 trillion, up by nearly 1% in the last 24 hours.
