NVDA - Bitcoin Ethereum Dogecoin Shoot Up On One Of The Best Days For Crypto In 2024 Amid Ether ETF Approval Buzz: Analyst Flags 'Robust' US Investor Demand for King Crypto | Benzinga
The cryptocurrency market rallied handsomely on Monday over increased odds of approval of spot Ethereum ETFs, with Bitcoin coming close to breaking its all-time highs.
What Happened: The second-largest cryptocurrency, Ether, raked in gains of more than 20% on the day, resulting in a breach of $3,700 for the first time in more than two months.
The upsurge caused Ethereum's Open Interest to shoot up by nearly 28% over the last 24 hours, reaching record highs of $14.95 billion.
The rally came after two prominent Bloomberg analysts, Eric Balchunas and James Seyffart raised their odds of spot Ether ETF approval to 75% from 25%. The final deadline for various applications falls later this week.
Bitcoin added significant gains as well, surging past $71,000 in ...