On Friday, Bitcoin neared $60,000.00 amid the boosted optimism of investors to the approval of the first bitcoin futures exchange-traded fund (ETF).
As of writing, the world’s largest cryptocurrency soared 2.24% to $58,923.03 with a 24-hour change of $1,318.30.
Currently, it stands with a market capitalization of $1.11 trillion. In addition, it holds a 24-hour volume of $1.64 billion with a $56,871.37 low and $59,961.00 high.
In the early trading, it corrected a few points below the $58,000.00 level. Consequently, it started a firm climb as downsides were minimal below $57,000.00.
The virtual currency is now trading beyond the $58,000.00 price and the 100 hourly simple moving average, close to the $59,000.00 zone.
In addition, Bitcoin tested the 1.236 of the downtrend motion from the $58,580.00 high to the $56,888.00 low.
On the positive, the initial resistance is alongside the $59,500.00, and its first major resistance is near the $59,650.00 level.
Moreover, a clear break above the $59,650.00 resistance could approach doors for more price gains.
Consequently, the subsequent key resistance is close to the $60,000.00, where Bitcoin might rally towards $62,000.00.
Meanwhile, the market is hopeful that the US Securities and Exchange Commission (SEC) would flag a green light to the ProShares Bitcoin Strategy ETF.
Subsequently, the ETF would likely debut on the New York Stock Exchange on October 19. In addition, experts noted that the SEC does not have any reasons to object to the product.
Furthermore, it would be a significant landmark for the crypto industry, supporting the greater acceptance of digital assets on Wall Street.
Cryptocurrencies Mixed as Bitcoin Gained
Ethereum, the world’s second-largest crypto, boosted 3.85% to $3,780.46. It stands with a market capitalization of $443.80 billion and a 24-hour volume of $1.36 billion.
At the same time, Litecoin improved 0.18% to $179.85 with a market capitalization of $12.36 billion and a 24-hour volume of $122.84 million.
Similarly, Bitcoin Cash jumped 2.24% to $611.34. It has a market capitalization of $11.54 billion and a 24-hour volume of $49.35 billion.
Conversely, Ripple’s XRP declined 1.24% to $1.12 with a market capitalization of $111.57 billion and a 24-hour volume of $5.11 billion.
Likewise, Cardano shed 0.80% to $2.15 with a market capitalization of $69.82 billion and a 24-hour volume of $212.29 million.