Bitcoin price has surged 7% following a court ruling in favor of Grayscale against the SEC. This ruling increases the chances of Grayscale moving ahead with a Bitcoin ETF, as well as other ETFs like BlackRock getting approval. Additionally, the stock market is experiencing a significant boost, with US stock indexes surging. The S&P 500 is up over 1.2%, the Nasdaq over 1.88%, and the Dow Jones Industrial Average at 0.63%. If Bitcoin price is already turning bullish due to the Grayscale news, a simultaneous stock market all-time high could lead to a major surge in the cryptocurrency. As cryptocurrencies have a lot of catching up to do relative to the stock market, if the stock market sets new record highs and ETFs are approved, we may see Bitcoin price reaching new records as well.
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