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Bitcoin's move above $40,000 comes as gold hit a record high of over $2,100 per ounce during the early Asian trading hours in response to dovish comments from Federal Reserve chairman Jerome Powell. Btc coindesk To review, bitcoin – plodding along in a very tight range of roughly $27,000-$28,000 for weeks on end – was jolted above $30,000 ten days ago after a media outlet tweeted that BlackRock’s spot ETF application had won U.S. Securities and Exchange Commission (SEC) approval. Within minutes, the tweet had been revealed as a mistake and bitcoin quickly gave back some, but not all of its gains.
Coindesk bitcoin price
Manipulation is typically a concern for ETFs that track indexes (or baskets of different assets), because there can be a difference between the benchmark asset prices and the daily disclosures provided by ETF managers that can be exploited by those with inside information of the indexes. However, a similar problem could arise based on how bitcoin’s price is formulated. Hybrid Blockchain for the Enterprise Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
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While there are subtle indications that this movement of older coins may have temporarily concluded, the consequence could be a potential pause in the ongoing bullish cycle in the cryptocurrency market. CoinDesk TV Sponsored Content