Following a partial retracement of its gains, Bitcoin, the leading cryptocurrency, has successfully recaptured the highly sought-after $34,000 threshold. The announcement from the Depository Trust and Clearing Corporation (DTCC) is believed to have played a role in this price surge.
The inclusion of DTCC in the market creates a buzz.
The intense speculation surrounding the approval of Bitcoin ETF applicants, including BlackRock, has triggered Bitcoin’s most substantial two-day rally in seven months.
However, this optimistic sentiment faced an obstacle when BlackRock’s iShares Bitcoin Trust (IBTC) was unexpectedly removed from the DTCC’s listing, causing a significant drop in Bitcoin’s value. This delisting, whether due to a technical error or a premature addition, dashed hopes of an imminent crypto ETF launch and official endorsement, which the previous listing had ignited.
The DTCC later clarified that featuring an ETF on their website is a standard preparatory procedure and doesn’t indicate regulatory approval. Interestingly, the ETF had been on the site since August. Following this clarification, Bitcoin’s price rebounded to the $34,000 mark.
An abundance of green.
Based on data from CoinGecko, Bitcoin remains steady at $34,116, marking an 18.6% increase over the past week. Ethereum, the second-largest cryptocurrency, is valued at $1,792.29, showing a 14% rise during the same timeframe.
Solana emerges as the top performer with a price of $31.38, surging by a remarkable 29.8% over the week.
According to CoinGecko’s data, Bitcoin’s dominance presently exceeds 51%.