Bitcoin price climbed to $63,780 in the last 24 hours, and good news keeps coming. Trump announced a crypto-friendly vice president, and the date for the launch of ETH ETFs has been set. Reports suggest the Fed might cut interest rates by the end of the month, and we are seeing many more developments.
Why Are Cryptocurrencies Rising?
Just recently, Bloomberg ETF Analyst Eric Balchunas officially announced the date. Everyone was expecting the SEC to make a decision this week. Investors, who were sure the date would be clarified before the week ended, were not mistaken. Eric shared the following in his recent post:
“Update: Nate’s instincts were right, the SEC finally got back to issuers today and asked them to return FINAL S-1s (including fees) by Wednesday and then request effectiveness after the close on Monday for a 7/23 TUESDAY LAUNCH. Of course, this is assuming there are no unforeseen last-minute issues!”
ETH price surpassed $3,400 while BTC hit a new peak at $63,820.
