Summary
Bitcoin is trading above $50,000, rising more than 10% in a week. Analysts attribute the increase to big investors hoarding the cryptocurrency and renewed interest from Wall Street. Ethereum and Solana also saw gains, while meme coins surged. Investors are focused on Bitcoin as the halving event approaches and institutional interest in newly approved ETFs grows.
Key Points
1. Bitcoin is still trading comfortably above the $50,000 mark, having risen by more than 10% over seven days.
2. The Securities and Exchange Commission approved ten spot Bitcoin exchange-traded funds (ETFs), leading to a price comeback after an initial dip.
3. Ethereum is up more than 11% over the past week, Solana temporarily knocked Binance’s BNB Coin from the fourth spot, and meme coins like Bonk, Pepe, and Dogwifhat saw significant increases in value.