Bitcoin leaps to 2023 high on ETF bets
SINGAPORE - Cryptocurrencies extended gains in Asia trade on Tuesday, with bitcoin rallying to an almost 18-month high on speculation that an exchange-traded bitcoin fund is imminent.rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023.
"The value of an asset … any asset basically, is the amount of people using it. So the ETF would make a large audience and increase liquidity," said Steen Jakobsen, CIO at Saxo. Data on crypto derivatives analysis site Coinglass showed heavy bitcoin short-covering in the last 24 hours.
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