Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

African fintech leaders are shaping the industry through worldwide acquisitions.

June 30, 2025

Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.

June 30, 2025

The emerging phase of competition in India’s fintech sector

June 30, 2025

Meta seeks $29 billion for private credit firms to fund AI data centers.

June 30, 2025
Facebook X (Twitter) Instagram
Trending
  • African fintech leaders are shaping the industry through worldwide acquisitions.
  • Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.
  • The emerging phase of competition in India’s fintech sector
  • Meta seeks $29 billion for private credit firms to fund AI data centers.
  • The strategic growth advantages of the AI-driven TIPALTI financial platform in a post-Brexit environment
  • Darren Upson from Tipalti discusses AI focused on finance.
  • Argentinian Fintech Tapi acquires a Mastercard division in Mexico.
  • How Artificial Intelligence and Predictive Finance Transform Business Resilience
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

    June 26, 2025

    Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

    June 12, 2025

    Fintech Scotland and TSB unveil a new innovation lab initiative.

    June 3, 2025

    OECD Economic Outlook June 2025: The Fintech Executive’s Strategic Playbook

    June 2, 2025

    The impact of the fintech recruitment crisis on job seekers.

    May 28, 2025
  • AI

    Meta seeks $29 billion for private credit firms to fund AI data centers.

    June 30, 2025

    The strategic growth advantages of the AI-driven TIPALTI financial platform in a post-Brexit environment

    June 29, 2025

    Darren Upson from Tipalti discusses AI focused on finance.

    June 29, 2025

    How Artificial Intelligence and Predictive Finance Transform Business Resilience

    June 29, 2025

    How EY’s finance transformation team approaches AI strategy

    June 28, 2025
  • Acquisitions

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025
  • Trends

    Key Trends and Focus Areas in Fintech Payments for 2025

    June 22, 2025

    Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

    June 18, 2025

    Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

    June 13, 2025

    Irish fintech remains on a remarkable growth trajectory, contrary to global trends.

    June 12, 2025

    The Irish fintech sector is thriving and surpassing global trends.

    June 9, 2025
  • Insights

    Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels

    June 27, 2025

    Finance Magnates Reports: XBO Designated as Top Cryptocurrency Payment Gateway. XBO’s core principles of trust and simplicity align with cutting-edge solutions, providing customers access to an award-winning crypto payment option. 16 hours ago

    June 26, 2025

    Fintech Bank competes with HSBC and Lloyds in the current account market.

    June 24, 2025

    Netcapital’s Nasdaq acquisition of a web3-based free gaming platform without mixing code

    June 19, 2025

    Ali Kassab and Freedom PSP: Unraveling the Myths of Fintech

    June 19, 2025
  • Rumors

    The Giant Fintech Green Point Captivates Investment Capital Interest

    June 25, 2025

    Chinese Ant Group refutes speculation about a partnership with Rwa and Stablecoin.

    June 20, 2025

    Tua Tagovailoa Trade Speculation: Miami Dolphins May Pursue QB Negotiations After 2025 Season if Playoff Aspirations Fall Short | NFL News

    June 16, 2025

    Paraphrase the title from the Circle files regarding the IPO for the Bank.

    June 7, 2025

    Toncoin achieves $1 billion in trading volume as Visa executive joins and Musk speculation grows

    June 4, 2025
  • Startups

    Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.

    June 30, 2025

    The emerging phase of competition in India’s fintech sector

    June 30, 2025

    Argentinian Fintech Tapi acquires a Mastercard division in Mexico.

    June 29, 2025

    XLM $0.19 Support: Challenges and Approaches for Fintech Startups

    June 29, 2025

    Pine Labs, the Fintech Unicorn, Submits DRHP to SEBI for INR 2,600 Crore IPO

    June 27, 2025
  • finjobsly
fintechbits
Home » BTC jumps 6% to $70,000 as Ethereum ETF rumors cause market frenzy
Market Rumors

BTC jumps 6% to $70,000 as Ethereum ETF rumors cause market frenzy

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Bitcoin Ethereum .jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link
Receive, manage and grow your crypto investments with BrightyReceive, manage and grow your crypto investments with Brighty

Bitcoin (BTC) surpassed the $70,000 mark on May 21, marking a milestone driven by a flood of investments in spot Bitcoin exchange-traded funds (ETFs) and a broader market rally.

Bitcoin price surged to $70,325, a 6% increase over 24 hours, before settling at $68,700 at press time, based on CryptoSlate data.

Ethereum (ETH) has arguably led the rally over the past few hours – seeing a staggering 14.5% rise in an hour on Monday amid speculation that the US SEC may approve Ethereum spot ETFs.

ETH rose from $3,143 to $3,518 at press time.

Renewed interest

THE renewed interest in Bitcoin ETFs follows weeks of outflows, with nearly 1 billion dollars flowing into these funds, providing investors with exposure to the leading digital asset.

This surge led to significant liquidations in the market, with more than $235 million in positions closed in the last 24 hours, including $63 million in short positions in Bitcoin alone, according to CoinGlass.

Analysts say most on-chain metrics suggest that start of a bull market although some are showing signs of a potential peak. The recent rebound near $60,000 has sparked renewed interest, with Farside Investors reporting around $950 million in inflows last week, a level not seen since March.

Bitcoin’s 51% year-to-date gain reflects investors’ anticipation of U.S. monetary expansion, as evidenced by the fact that the M2 monetary base surpassed $21 trillion in April 2024. This increase in currency in circulation suggests an increase in inflationary pressures despite a period of hesitation in spending by businesses and individuals.

Meanwhile, the Federal Reserve’s efforts to manage inflation and avoid a recession could affect the liquidity and attractiveness of assets like Bitcoin.

Rarity

Bitcoin hit a new all-time high of $73,737 in March and now sits just 5% below that level. The recent rise appears to be largely driven by new Bitcoin ETFs, which trade on traditional exchanges and allow investors to buy stocks that track the asset’s price.

Supporting the bullish sentiment, Bitcoin reserves on major exchanges fell to a seven-year low. Data from CryptoQuant shows that only 1,918,417 BTC was available on major trading platforms as of May 19, a significant decrease from the previous year.

This scarcity, coupled with the recent halving event that reduced potential new supply from miners, makes the bearish outlook on Bitcoin increasingly difficult to justify.

The crypto community continues to closely monitor Bitcoin price action, with many wondering whether the digital asset will continue its ascent or face a significant correction in the coming weeks.

Bitcoin Market Data

At the time of going to press 23:11 UTC in May. 20, 2024, Bitcoin is ranked #1 by market capitalization and the price is up 4.93% in the last 24 hours. Bitcoin has a market capitalization of $1.37 trillion with a 24-hour trading volume of $38.97 billion. Learn more about Bitcoin ›

Crypto Market Summary

At the time of going to press 23:11 UTC in May. 20, 2024the total crypto market is valued at $2.57 trillion with a 24 hour volume of $102.43 billion. Bitcoin dominance is currently at 53.41%. Learn more about the cryptocurrency market ›

Mentioned in this article
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The Giant Fintech Green Point Captivates Investment Capital Interest

June 25, 2025

Chinese Ant Group refutes speculation about a partnership with Rwa and Stablecoin.

June 20, 2025

Tua Tagovailoa Trade Speculation: Miami Dolphins May Pursue QB Negotiations After 2025 Season if Playoff Aspirations Fall Short | NFL News

June 16, 2025
Leave A Reply Cancel Reply

Latest news

African fintech leaders are shaping the industry through worldwide acquisitions.

June 30, 2025

Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.

June 30, 2025

The emerging phase of competition in India’s fintech sector

June 30, 2025
News
  • AI in Finance (1,310)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (869)
  • Technology Innovations (151)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,310)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (869)
  • Technology Innovations (151)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.