Bitcoin surged towards $28,000 on Monday, as markets continued to react to the Securities and Exchange Commission (SEC) decision not to appeal the Grayscale ruling. The decision now means that Graycale could soon move to convert its bitcoin trust into an exchange-traded fund (ETF). Ethereum edged closer to $1,600 today.
Bitcoin
Bitcoin (BTC) was on the cusp of breaking into the $28,000 level on Monday, as markets reacted to the SEC’s decision not to appeal a court ruling favoring Grayscale.
BTC/USD surged to a peak at $27,968.93 earlier in today’s session, which comes following Sunday’s low at $26,817.89.
As a result of today’s move, bitcoin climbed to its strongest point since October 9, recovering all of last week’s losses in the process.
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