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bitcoin briefly touched $73,000 today before facing a correction and falling below $72,000.
The largest cryptocurrency is up almost 50% this month and has set new weekly peaks.
Several factors are driving btc's bullish rally. Earlier today, Thailand's SEC gave the green light to asset management companies to launch spot bitcoin ETFs. At the same time, the London Stock Exchange announced that it will begin accepting applications for bitcoin exchange-traded notes (ETNs) in the next quarter.
The largest bitcoin ETF issuer, Blackrock, also reached a milestone today. The IBIT ETF achieved 200,000 bitcoin under management within two months of its launch. These developers continue to push btc prices higher as bulls become increasingly bullish on $100,000. Despite the latest all-time high, the btc daily bitcoin/” target=”_blank” rel=”noopener”>trading volume has decreased by 5%, showing that traders are still holding on to their assets.
Trends like these will prove pivotal as the largest cryptocurrency approaches its fourth halving next month. If the current demand rate persists, the immediate impact on btc supply after the halving could have a noticeable impact on its prices.
