Here’s Why the Bitcoin Price Is Pumping Ahead of Potential ETF Launch This Week


The Bitcoin ETF landscape is making notable advancements, causing the BTC price to flourish. Currently, Bitcoin is trading at $46.7K, up 4% today, 2.7% this week and 6.72% this month.

Meanwhile, the trending Bitcoin Minetrix is also making gains as its presale surges toward $8 million.

Bitcoin Spot ETF Anticipation Causes Price

Investors are loading up on Bitcoin as sentiment surrounding its pending ETF applications edges bullish.

The sentiment is well-deserved, with institutions moving towards the finish line with their applications.

The Block Pro Headlines reported that BlackRock and VanEck amended their S-1 forms within the last hour.

Furthermore, Radar highlighted that “​​VanEck bought $72.5 million Bitcoin to seed its Bitcoin ETF since Friday.”

Meanwhile, VanEck has also ramped up its Bitcoin marketing efforts, aiming to win the “ETF race” of onboarding investors to its product over rival vehicles from BlackRock, Citadel, and other ETF applicants.

In a recent tweet, VanEck stated they are “not Bitcoin tourists” and are “in it for the long haul.”

The tweet explained how VanEck will contribute to the Bitcoin ecosystem through its ETF and displays traditional finance players’ unprecedented efforts to attract liquidity to the crypto market.

Consequently, VanEck’s tweet made a considerable impression on the crypto community, amassing 1.6 million views so far.

Globally renowned bank Standard Chartered believes the result of the Bitcoin ETFs will be profound, potentially catapulting Bitcoin to $200,000 by the end of 2025.

The bank also expects between $50-$100 billion in inflows to enter the Bitcoin ETFs in 2024.

But the market’s immense optimism was topped with a tweet from SEC Chair Gary Gensler on Monday, explaining how to invest in crypto assets safely.

Market participants saw this as a confirmation the ETFs will be approved, with the tweet garnering 26 million impressions and a leading reply coming from Eric Weiss, which stated, “Tell me you’re about to approve the #bitcoin ETFs without telling me you’re about to approve the Bitcoin ETFs.”

Yet, rising alongside Bitcoin is Bitcoin Minetrix, a new protocol enabling users to earn BTC rewards effortlessly from an Ethereum-compatible wallet.

Revolutionary Stake-to-Mine Bitcoin Minetrix Presale Nears $8M

Bitcoin Minetrix is a groundbreaking new cryptocurrency allowing users to earn Bitcoin by staking $BTCMTX tokens on its Ethereum-based platform.

It is a cloud mining protocol where users stake $BTCMTX in exchange for Bitcoin mining credits. They can then burn these credits for cloud mining power, translating to free Bitcoin.

This effortless process moves Bitcoin mining towards mass adoption by requiring no technical expertise or hardware requirements from users, making it ideal for beginners. Its simplicity is especially beneficial as we head into the bull market, where masses of new users will enter crypto.

Another benefit is that the decentralized and user-owned nature of $BTCMTX eradicates the risk of cloud mining scams, which have become common in the industry.

Bitcoin Minetrix’s problem-solving approach and innovative tokenomics have drawn exciting predictions from analysts.

For instance, Uche Crypt made a video speculating whether Bitcoin Minetrix could 10x. Meanwhile, Jacob Bury is even more bullish, forecasting it holds 100x potential.

Currently, the Bitcoin Minetrix price is $0.0127, but this will incrementally increase as the presale advances. The next hike will occur in two days, leaving potential investors little time to secure the best price.

Visit Bitcoin Minetrix Presale

 

 

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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