The crypto market has seen gains due to oversold levels and speculation around the SEC approving the first Bitcoin ETF. The market capitalization grew by over 2% to $1.05 trillion, with Bitcoin rebounding 8.5% from June 15 lows and Ether up over 9% in the past two days. BlackRock’s application for a Bitcoin ETF has also contributed to the market’s bounce, with market analyst Lark Davis predicting a SEC approval could have the asset manager purchase every single Bitcoin available across crypto exchanges.
