Bitcoin rose above $37,000 for the first time since May 2023, propelled by short liquidations as optimism grows around a potential bitcoin ETF approval in the US. Ether, the second largest cryptocurrency, held gains near the $2,000 level. Other major altcoins like Solana, Cardano, and Polygon also saw price increases. Bitcoin mining companies like Marathon Digital and Riot Blockchain saw outsized share price gains, reflecting increased optimism in the sector. Cryptocurrency exchanges Coinbase and blockchain companies MicroStrategy and Block also gained as bitcoin surged. Analysts said an approved US bitcoin ETF could trigger further buying and support the ongoing crypto rally, although the outcome is still uncertain.
