Investing
Why is Bitcoin price up today?
© Reuters.
(BTC) price is up today, reaching a 2023 high at $31,431. The fresh BTC price year-to-date high comes amid recent growing institutional interest in Bitcoin from companies like BlackRock (NYSE:) and Fidelity Investments, both of which filed for a spot Bitcoin ETF within the past two weeks.
The institutional interest seems to have negated the negative news of the SEC cracking down on Binance and Coinbase (NASDAQ:) and bullish traders continue to overpower BTC shorts.
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