Bitcoin soared above $31K at one point on Monday for the first time in four days before retreating back below the threshold. The head of research for digital asset management firm 3iQ said that investors are riding June tailwinds. JPRubin23 writes
Bitcoin returned briefly on Monday to its recent, loftier heights above $31,000 before dipping slightly below the threshold.
BTC last traded above $31,000 on Thursday. It sank along with other assets amid renewed inflationary worries raised primarily by an unexpectedly robust ADP private sector jobs report, even sinking below its most recent support of $30,000. But those concerns seemed to vanish, and after lingering just above this level, bitcoin jumped more than 2% over a roughly 90-minute period during the afternoon before retreating.
In a CNBC appearance Monday, Clayton said that if the filings addressed certain protections that bitcoin futures ETFs include, that it would be difficult to"resist approving a bitcoin ETF." Ether was recently changing hands at about $1,890, up 1.8% from Sunday, same time. Other major cryptos turned from red to increase or jumped more squarely into positive territory with MATIC and ADA, the tokens of the smart contracts platforms Polygon and Cardano, rising more than 6% and 2%, respectively. BNB, the native crypto of the Binance exchange recently rose over 4%.
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