Bitcoin Bulls Are Testing The Year’s High Amid Light Market Liquidity

Bitcoin has rallied almost 90% in 2023 on renewed support
BlackRock refiled application for Bitcoin ETF on Monday

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By Olga Kharif

July 3, 2023 at 6:15 PM UTC

Updated on

July 6, 2023 at 10:33 AM UTC

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Bitcoin advanced to a fresh high after several giants of traditional finance sought permission to launch spot exchange-traded funds on the token in the US, fueling optimism about digital assets gaining more mass-market appeal.

The largest cryptocurrency rose as much as 3.4% to $31,504 on Thursday, the highest level since June 8 last year. Bitcoin has surged 90% this year, with gains in the past few weeks spurred by renewed speculation that an ETF that invests directly in the cryptoasset will eventually be approved in the US.