{"id":4687,"date":"2023-10-23T18:39:10","date_gmt":"2023-10-23T18:39:10","guid":{"rendered":"https:\/\/infundpros.com\/markets\/currencies\/bitcoin-hits-three-month-high-buoying-crypto-stocks\/"},"modified":"2023-10-23T18:39:11","modified_gmt":"2023-10-23T18:39:11","slug":"bitcoin-hits-three-month-high-buoying-crypto-stocks","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4687","title":{"rendered":"Bitcoin hits three-month high, buoying crypto stocks"},"content":{"rendered":"
\n

By Hannah Lang and Kanjyik Ghosh<\/p>\n

(Reuters) -Bitcoin, the world’s largest cryptocurrency, hit a three-month high on Monday, rising 3.62% to $31,087 amid investor enthusiasm about the possibility of a spot bitcoin exchange-traded fund. <\/p>\n

The rise in bitcoin sent shares of cryptocurrency and blockchain-related companies such as Coinbase (NASDAQ:) Global and Marathon Digital (NASDAQ:) Holdings up 6.5% and 11.9% respectively. is up 17.5% from the year’s low of $26,533 on Oct. 11.<\/p>\n

The move also comes as concern ripples through the broader markets about the risk of Israel’s war with the Islamist group Hamas becoming a wider regional conflict. <\/p>\n

On Monday, the yield on 10-year U.S. Treasuries reached as high as 5.021%, the latest stage of a relentless sell-off in government bond markets. <\/p>\n

Bitcoin briefly soared on Oct. 16 following an erroneous news report about asset manager BlackRock (NYSE:)’s high-profile application for a spot bitcoin ETF, which would track the underlying price of the token. The U.S. Securities and Exchange Commission is still reviewing the proposal, and is expected to deliver a decision by next year at the latest. <\/p>\n

“Over the past month, the growing investor confidence in the imminent approval of BTC spot ETFs has driven considerable momentum toward BTC,” Matteo Greco, a research analyst at crypto- and fintech-focused investor Fineqia, said in a note. <\/p>\n

Ether, the coin linked to the ethereum blockchain network, rose 1.57 % to $1,60.3 on Monday. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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