Bitcoin, the world’s largest cryptocurrency by market value, rallied over the past 24 hours after various traditional finance firms announced moves into the crypto market, indicating bullish sentiment. Bitcoin jumped 8% on the day, pushing it to $28,800, after trading flat for the last few days at around $26,800. Altcoins also surged, with bitcoin cash (BCH) rallying over 20% in the same time period. Banking giant Deutsche Bank announced Tuesday that it had applied for a digital asset custody license in Germany and crypto exchange EDX Markets (which is backed by the likes of Citadel Securities and Fidelity,) started offering trading for BTC, ether (ETH), litecoin and bitcoin cash. Just last week, BlackRock filed for a spot BTC exchange-traded fund (ETF) too. “This move towards crypto by major financial institutions reflects a significant shift in their stance on the industry’s potential, especially given the timing,” Mark L. Newton, head of technical strategy at FundStrat, said in a note.
Related posts
-
Bitcoin Miner Ionic Digital Renews IPO Push, Reports Significant BTC Holdings
Ionic Digital has revived its plans for an initial public offering (IPO) following the appointment of... -
Crypto Analyst Says Things Are ‘About To Get Interesting’
Este artículo también está disponible en español. The Ethereum price started the new week by extending... -
Crypto Exchange Zondacrypto Wins 7th License with CySEC Approval
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar The Role...