Bitcoin’s price has surpassed $30,400, reaching its highest levels since mid-April. The cryptocurrency’s gains were driven by various announcements of legacy finance applying to launch a Bitcoin exchange-traded fund (ETF). BTC/USD erased many weeks of downside, adding over 20% versus local lows below $24,800 seen on June 15.
Key points:
– BTC/USD reached a new multi-month high of $30,340 on Bitstamp.
– On-chain monitoring resource Material Indicators focused on $30,000 as an important level to overcome.
– The U.S. was already a focus for crypto market participants, with the ETF announcements fueling a return to accumulation during Western trading hours.
