Bitcoin reached a new high for 2023, surpassing $37,000, driven by optimism around a potential bitcoin ETF approval.
The rise in the bitcoin price led to short liquidation and boosted overall crypto prices.
Other cryptocurrencies, such as Ether, Solana, Cardano, and Polygon, experienced gains in response to the bitcoin surge.
Shares of crypto-related companies, including Coinbase, Microstrategy, Block, Robinhood, Marathon Digital, Riot, CleanSpark, and Cipher Mining, also saw increases.
The extent and sustainability of the rally remain uncertain, but the outlook looks promising.
The market is closely monitoring the potential approval of a bitcoin ETF, which could further impact prices.