Home Business Why is Bitcoin price up today? By Cointelegraph

Why is Bitcoin price up today? By Cointelegraph

0
Why is Bitcoin price up today? By Cointelegraph

[ad_1]


© Reuters.

(BTC) price is up today, reaching a 2023 high at $31,431. The fresh BTC price year-to-date high comes amid recent growing institutional interest in Bitcoin from companies like BlackRock (NYSE:) and Fidelity Investments, both of which filed for a spot Bitcoin ETF within the past two weeks.

The institutional interest seems to have negated the negative news of the SEC cracking down on Binance and Coinbase (NASDAQ:) and bullish traders continue to overpower BTC shorts.

Crypto price map. Source: Coin360
Grayscale holdings. Coinglass
Bitcoin futures liquidations. Source: Coinglass
Bitcoin short vs. long ratio. Souce: Coinglass
. Source: TradingView
Bitcoin price versus the S&P 500. Source: TradingView
Bitcoin Fear & Greed Index. Source: Alternative.me