Crypto Market Gains Momentum with ETF: Bitcoin Price Soars to New Heights in 2023!

• The largest cryptocurrency by market value is trading at a price of $31,145 at the time of writing.
• Bitcoin last exceeded $31,000 in May 2022. At the beginning of this year, it was trading below $17,000.
• While the price of Bitcoin continues to trade above $31,000, BTC gains in June have exceeded 14%.

Bitcoin price surpasses $31,000 after a long time and reaches its yearly high; BTC recovers its losses from May.

Bitcoin Price Rises to $31,000

Bitcoin surpassed $31,000 and managed to rise to $31,431 thanks to the optimism of institutional investors regarding a high-profile ETF application and the launch of a new cryptocurrency exchange.

The largest cryptocurrency by market value is trading at a price of $31,145 at the time of writing. This represents an increase of over 3.5% in the past 24 hours and over 19% in the past seven days.

Bitcoin last exceeded $31,000 in May 2022. At the beginning of this year, it was trading below $17,000.

This rally is also boosting the rest of the crypto market: Ethereum, the second-largest crypto asset, is trading at $1,919 with a 1.6% increase in the past 24 hours. Bitcoin fork Bitcoin Cash has been the best-performing crypto asset in the past 24 hours, trading at $179 with a 32% increase; this cryptocurrency has gained over 60% in the past week.

Bitcoin’s Monthly Gains Increase

While the price of Bitcoin continues to trade above $31,000, BTC gains in June have exceeded 14%. Bitcoin experienced a loss of approximately 7% in May, but these losses were recovered in June. In January, BTC had an increase of approximately 40%, making a strong start to the year 2023.