Bitcoin Price Suddenly Spikes Past $34K on ETF Hopes and Trading Volume Surge

The price of Bitcoin suddenly spiked past $34K, gaining over 10% in 24 hours amid excitement around upcoming spot ETF approvals.

The surge came amid hints that BlackRock may soon begin seeding its proposed spot BTC ETF with cash.

Bitcoin's trading volumes also saw significant growth, jumping over 240% in 24 hours.

The upward momentum lifted other major cryptocurrencies like Ether, Solana, and Cardano which posted gains between 5-11%.

The spike came after four straight weeks of inflows into digital asset investment products totaling $74 million according to CoinShares data.