Posted 11/9/2023, 4:55:00 PM
Bitcoin and Ethereum Hit New Highs as Crypto Rally Continues on ETF Hopes
- Bitcoin approaches $38,000, an increase of 7% in 24 hours, reaching an 18-month high
- Ethereum crosses $2,000 for the first time since July, up 8% in 24 hours
- Crypto market capitalization increases 5.4% to $1.45 trillion as major coins see gains
- Bitcoin rally driven by optimism around near-term approval of a spot Bitcoin ETF
- BlackRock registers "iShares Ethereum Trust," likely to file for a spot ether ETF soon
- SEC has brief window to potentially approve a spot Bitcoin ETF starting Thursday
- Even without November approval, 90% chance of ETF approval by January per analysts
- Prices rising sharply but remain below 2021 all-time highs as new crypto bull market begins