Amid the crypto market’s bullish sentiment on the spot Bitcoin ETF, the BTC price has hit and flirted with the $30,000 mark on October 20.
The largest cryptocurrency has sustained its weekly long rally as it further suggests an optimistic momentum for coming weeks.
This latest upsurge has potentially come forward as Federal Reserve Chair Jerome Powell indicated that FED is likely to pause interest rate hikes at next FOMC (Federal Open Market Committee) meeting.
The price breakout to $30k has come five days after it nearly touched the mark on Monday following a false reporting by Cointelegraph on iShare’s spot Bitcoin ETF approval.
BTC is currently up 10% over the past 7 days with over 100% increase in the past 24 hour volume, according to data from Coinmarketcap.
Also Read: Grayscale Submits New Filing For Spot Bitcoin ETF On NYSE Arca
