Kryptodata

  • Market Cap: $2,079,974,018,323.74
  • 24h Vol: $59,576,972,787.93
  • BTC Dominance: 48.67%
What is the reason behind the increase in Bitcoin price today?

What is the reason behind the increase in Bitcoin price today?

Bitcoin’s price has rebounded, rising over 5% and reaching a September high of over $26,500 after hitting a three-month low.

Investors are excited about Franklin Templeton filing for a spot Bitcoin ETF, fueling dreams of a new bull market.

Institutional interest in Bitcoin is growing, with companies like BlackRock and Fidelity Investments filing for ETFs. Franklin Templeton has also filed for a spot Bitcoin ETF.

The supply of Bitcoin on exchanges continues to drop, which is seen as a bullish signal by the market.

Liquidations of BTC shorts have had a strong impact on price, with over $38.1 million in shorts being liquidated in the past 24 hours.

Despite the recent gains, the Bitcoin Fear and Greed Index shows that the market is still fearful.

This article does not provide investment advice and readers should conduct their own research.

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