“Big News” – Cryptocurrencies are now preparing for a huge $27 trillion earthquake after Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana and Litecoin Price Pump

The prices of Bitcoin, Ethereum, and other major cryptocurrencies have skyrocketed this year due to a myriad of different surprising factors.

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Bitcoin has doubled from its late 2022 lows, surging to more than $30,000 per bitcoin and lifting the price of other top 10 altcoins BNB BNB, XRP XRP, cardano, dogecoin and solana. The increase saw $300 billion added to the combined market this year.

Now, the world’s largest asset manager BlackRock BLK — which looks after about $10 trillion on behalf of clients — has sparked a flood of US bitcoin exchange-traded fund (ETF) applications that have a combined $27 trillion in assets under management.

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More Forbes $4 Trillion Bitcoin and Ethereum Boom Revealed by ‘Seasonal Surge’ Crypto Price Prediction

The cryptocurrency market has been ignited by the BlackRock app for instant bitcoin trading… [+] Fund (ETF), which boosts the price of bitcoin, ethereum, BNB, XRP, solana, cardano and dogecoin.

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“Many of the largest financial institutions in the United States are actively working to provide access to bitcoin and more,” CoinShares chief strategy officer Meltem Demirors tweeted along with a list of financial institutions, including Fidelity, JPMorgan, Morgan Stanley MS and Goldman. Sachs, BNY Mellon, Invesco IVZ, and Bank of America BAC.

Fidelity is the latest financial giant to enter the race to be the first to market with a bitcoin spot ETF, on Thursday redecorating papers with the US Securities and Exchange Commission (SEC) for a so-called Wise Origin Bitcoin Trust it first proposed in 2021.

“Cryptocurrency markets enjoyed another positive week, with bitcoin holding near the peak of its $30,000 range,” Rachel Lane, decentralized derivatives founder SynFutures, said in emailed comments.

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MORE FORBESIMF Suddenly Flips Crypto as Wall Street Surges Bitcoin, Ethereum, And Cryptocurrency Prices By $200 Billion

Bitcoin has gone up this year but is still well below its peak in 2021. Ethereum and other… [+] Major altcoins BNB, XRP, cardano, dogecoin, litecoin, and solana also rose in 2023.

Forbes Digital Assets

Bitcoin’s comparative performance has improved against the broader cryptocurrency market, with no signs of a reversal. Meanwhile, altcoins saw modest gains last week followed by a more significant decline this week. Bitcoin is trading near medium-term highs, while Most altcoins are trading around 20% lower. Major altcoins such as solana SOL, polygon MATIC, polkadot, algorand ALGO have not regained their May levels.”

Lin pointed to derivatives data that showed an increase in trading activity, with open interest in bitcoin reaching $16 billion. Options open interest refers to 66% of calls down to 34%, with the most significant interest at the 35,000 and 32,000 call levels, which act as resistance if Bitcoin breaks above $30,000.

“Bitcoin dominance has reached a new yearly high of 52%. Bitcoin looks stronger than altcoins on the charts, and even ETH, which previously held up well against Bitcoin, is faltering,” Lin said, adding that “Bitcoin’s outperformance is due to Largely to the Bitcoin ETF. News.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

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