Bitcoin Jumps 10 Percent to Highest Level in 1.5 Years, Bitcoin (BTC) prices rose about 10 percent to their highest level in 18 months as speculation about a possible Bitcoin exchange-traded fund increased enthusiasm for the sector and prompted short-sellers to exit their positions.
The world’s largest cryptocurrency was last at 32,833 US dollars after trading as high as 34,283 US dollars.
Bitcoin’s surge sent crypto-related stocks such as exchange Coinbase Global, miner Marathon Digital, bitcoin holder MicroStrategy rising sharply and making further gains in after-hours trading in the United States.
Bitcoin Jumps 10 Percent. At the same time, Ethereum (ETH) also jumped 6 percent, hitting its highest level in two months and breaking above its 200-day moving average.
The prospect of spot ETH bitcoin is seen encouraging wider flow into the cryptocurrency, as it would allow more investors to buy exposure without trading it directly.