The price of Bitcoin (BTC) has seen a dramatic surge in the past ten days, rising from under $27,000 to its current level just below $34,000.

With this latest move, the market is debating whether Bitcoin can sustain its push towards $40,000 or if it will sink back down to prior lows.

While Bitcoin’s fate hangs in the balance, one emerging crypto project called Bitcoin Minetrix (BTCMTX) could also be poised for growth if it can continue capturing investor interest at its current rate.

Rumors of BlackRock Bitcoin ETF Approval Send Crypto Market Soaring

The crypto market is buzzing with anticipation as coin prices rebound and near intra-year highs.

Much of the excitement stems from rumors that BlackRock’s spot Bitcoin exchange-traded fund (ETF) application could soon receive approval from the SEC

BlackRock filed for regulatory approval in June, but the application has been dormant for months.

Speculation around approval arose when BlackRock’s BTC ETF ticker symbol, IBTC, was mysteriously listed on the Depository Trust and Clearing Corporation’s website on Monday.

After a few hours, the listing was taken down but then reappeared, fueling rumors that approval was imminent.

An SEC-approved, BlackRock-backed Bitcoin ETF would represent a watershed moment for cryptocurrency adoption and mark the first ETF of its kind in the US.

Additionally, the Crypto Fear & Greed Index, a widely-used gauge of market sentiment, has risen to 72 – its highest level since Bitcoin’s all-time high in November 2021.

Can Bitcoin Break Through the $40,000 Resistance Zone?

With Bitcoin hovering around $34,000, the big question is whether this rally has enough momentum to push the price above $40,000.

According to Galaxy Digital, approval of a spot BTC ETF could provide the momentum for Bitcoin’s price to surge over 74% in the first ye

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Author: BeInCrypto Team

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