Bitcoin has surpassed the $30,000 mark once again, driven by a wave of bullish sentiment in the market and the increasing involvement of traditional finance (TradFi) players in the cryptocurrency industry.
In the past 24 hours, Bitcoin has seen a gain of over 10%. The last time Bitcoin crossed the $30,000 threshold was back in April 2023, according to data from TradingView.
Analysts believe that the entry of major investment firms into the crypto market will reshape the industry in the near future. Ruslan Lienkha, Chief of Markets at YouHodler, a crypto and fiat service provider, stated that the involvement of firms like BlackRock and Fidelity will expand access to crypto investments with reduced risks.
Even a small percentage of clients from these firms interested in spot BTC ETFs can have a significant impact on pushing the price of Bitcoin higher.