Bitcoin’s price has surged to a 14-day high of $28,103, with growing institutional interest from BlackRock and Fidelity Investments in filing for a spot Bitcoin ETF being a primary catalyst for the rally. BlackRock’s application has provided a boost to the Grayscale ETF, with the discount approaching 2023 highs and under 37%. The cooling US dollar index is also seen as a positive sign for Bitcoin price, with sentiment for risk assets like Bitcoin increasing when the DXY index retracts.
