Posted 10/20/2023, 11:14:00 AM
Major Cryptocurrencies Surge as Bitcoin Nears $30K on ETF Hopes
- Ether crossed $1,600 and bitcoin jumped above $30,000 on Friday as major cryptocurrencies spiked up to 13%
- Gains were buoyed by hopes that the SEC may approve a spot bitcoin ETF soon
- Solana's SOL rose 12%, extending weekly gains to over 25%
- Bitcoin SV led altcoin gains, jumping 32% after Binance listed BSV perpetual futures at 50x leverage
- Analysts say betting against bitcoin's rise here goes "against gravity" given the ETF anticipation and potential as a "rush to safety" asset
