Bitcoin hits $60K for the first time since April after reports of imminent ETF approval

Bitcoin briefly surpassed $60,000 for the first time since April 2021. Reports suggesting that a Bitcoin futures ETF will begin trading in the United States as early as next week pushed the price up.

Data obtained from Cointelegraph Markets Pro shows that Bitcoin prices have been on a slow rise since the beginning of this month. Before the upward price action started, prices were around $42,000 from September 20 to October 1. The $60,000 mark was first breached on the Bitstamp exchange just after 5am (UTC), and Bitcoin is now just 7% away from reclaiming its April. 14, an all-time high of $64,804. The price has since dropped slightly and at the time of writing Bitcoin is trading around $59,500.
Bloomberg reported earlier today that sources familiar with the matter are giving positive indications that the Securities and Exchange Commission will approve several Bitcoin futures ETFs to begin trading next week.

Rumors of imminent approval have seen a price increase of about $7,000 in the past seven days, which corresponds to a 13% increase from $53,000 to $60,000. The sharpest increase has occurred in the past two days, during which time Bitcoin has soared from around $54,000 to the current high mark of $60,000.

source: cointelegraph.com