Bitcoin and Ethereum Approach Yearly Peaks amid Continual ETF Anticipation

Bitcoin and Ethereum Approach Yearly Peaks amid Continual ETF Anticipation

Bitcoin (BTC) Price Approaches $38,000

As of Monday, Bitcoin (BTC) was edging closer to $38,000 per coin, a level it hasn’t reached since April of the previous year. CoinGecko reported that the largest digital currency by market cap was currently worth $37,710 at the time of publication, marking a 2% increase in the previous day and a nearly 25% climb in the past 30 days.

Ethereum (ETH) Surpasses $2,000

In the meantime, Ethereum (ETH), the second- largest digital asset, saw an almost 3% increase in the past day, reaching a price of $2,037 per coin. This is the first time Ethereum (ETH) has crossed the $2,000 mark since July. The asset had only surpassed this value twice before in the year, once after the implementation of its Shanghai/Shapella upgrade and, more recently, following the notice of an Ethereum (ETH) ETF filing by BlackRock.

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Bitcoin (BTC) and ETF Applications

Positive news related to the numerous Bitcoin (BTC) ETF applications awaiting approval by the Securities and Exchange Commission often leads to increases in the price of Bitcoin. The recent eight-day window for the SEC to approve a Bitcoin (BTC) ETF resulted in a delay in the decision, causing some volatility in the market.

Mixed Performance Across the Cryptocurrency Market

On Monday, the rest of the cryptocurrency market showed mixed performance, with major altcoins such as Solana (SOL) Dogecoin (DOGE), and Avalanche (AVAX) experiencing a decline in price. Nonetheless, smaller yet prominent coins like PancakeSwap and ApeCoin made whole lot of gains, with PancakeSwap’s native token (CAKE) seeing an 8% increase and ApeCoin (APE) growing by nearly the same percentage.

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ApeCoin Community Accelerator Launch

Additionally, the ApeCoin community accelerator was launched from the NFT creators’ platform, Animoca Brands’ Forj, the previous  30 days, signaling probable growth for the token and providing a positive outlook for APE holders after a period of decline.

Hot Take: Bitcoin (BTC) and Ethereum (ETH) Prices Surge

Bitcoin (BTC) and Ethereum (ETH) have seen whole lot of surges in price, reflecting positive market sentiment and investor interest. The delay in approving Bitcoin (BTC) ETF applications has caused some short-term volatility, but smaller tokens like ApeCoin are making gains, offering probable opportunities for investors in the ever-changing cryptocurrency market.

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Demian Crypter emerges as a true luminary in the cosmos of crypto analysis, research, and editorial prowess. With the precision of a watchmaker, Demian navigates the intricate mechanics of digital currencies, resonating harmoniously with curious minds across the spectrum. His innate ability to decode the most complex enigmas within the crypto tapestry seamlessly intertwines with his editorial artistry, transforming complexity into an eloquent symphony of understanding.

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