Bitcoin surged to a new high since April last year, reaching 47,248 this morning. The market is optimistic as various asset management companies compete to submit the latest Bitcoin spot ETF application documents, and the market expects SEC approval this week. BTC’s 24-hour increase reached 7%, making it the only cryptocurrency among the top ten in market value to show an upward trend in the past seven days.
(ETF documents are being submitted crazily, and the SEC has quickly provided comments, not delays but more revisions.)
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GBTC trading volume nearly $500 million
Shiba Inu and Bitcoin successfully launched into space
Bitcoin dominates the top ten cryptocurrencies in market value
Yesterday was the last day for ETF issuers to submit revised documents to the SEC. The market once again ignited its passion for Bitcoin. According to ETF analyst Eric Balchunas’ tweet from Bloomberg, the trading volume of Grayscale’s Bitcoin Trust (GBTC) reached nearly $500 million yesterday, exceeding over 99% of the current 3,000+ ETFs, showing the market’s enthusiasm. However, he expressed surprise at Grayscale’s latest submission, which has a high fee of 1.5%, considering that most asset management companies have engaged in a price war, with Ark Invest, Bitwise, and VanEck all offering initial fee waivers.
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Shiba Inu and Bitcoin successfully launched into space yesterday (1/8) through Astrobotic’s Peregrine 1 mission. They are expected to land on the moon on February 23.
(Bitcoin and Shiba Inu go to the moon together, live broadcast of “To the Moon” on the afternoon of 1/8.)
As of 9 am today, the price changes of the top ten cryptocurrencies in market value are as follows. Bitcoin, the leader, has performed the best due to the ETF frenzy, while other cryptocurrencies have shown corrections in the past week. SOL, ADA, AVAX, DOGE, and DOT have all experienced a decline of over 10% in the past seven days.
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