The Bitcoin (BTC) rate increased by more than 18% in one day, reaching $35,240 against the stablecoin Tether USD (USDT) on the Binance exchange. At 9:25 Moscow time, BTC has corrected and is trading at $34 thousand; over the past week, the first cryptocurrency has increased in price by more than 22%. A sharp jump in the rate from $31.5 thousand began on October 24 at about 2:00 Moscow time, the price reached a maximum at 5:30 Moscow time, writes RBC Crypto.
The price action came after BlackRock’s spot bitcoin exchange traded fund (ETF), called the iShares Bitcoin Trust, appeared on a list maintained by the Depository Trust and Clearing Corporation (DTCC).
The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETFs to the market.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0
— Eric Balchunas (@EricBalchunas) October 23, 2023
The sharp rise in the price of the first cryptocurrency provoked a massive liquidation of margin positions of traders on crypto exchanges. According to Coinglassover the past 24 hours, traders who bet on the fall of the BTC rate collectively lost more than $310 million.
Other cryptocurrencies are also growing in price: for example, Ethereum (ETH) reached $1.8 thousand, BNB rose to $233, XRP from Ripple costs $0.55, Cardano (ADA) – $0.28, Solana token (SOL) is trading at $31.7, having risen in price by almost 40% over the week.
Source: Cryptocurrency
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