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International Business Times
International Business Times
Business
Nica Osorio

Market's High Stakes On SEC's Favorable Bitcoin ETF Decision Drive Bitcoin Surge

Bitcoin SEC ETF 21Shares Sun
Photo of a Bitcoin and an Ethereum coin on weathered wood in the sun. (Credit: QuoteInspector.com/flickr)

Bitcoin experienced a substantial price surge Monday, surpassing the $47,000 price point as the market placed substantial bets on the U.S. Securities and Exchange Commission (SEC) potentially approving several spot Bitcoin exchange-traded fund (ETF) proposals come Wednesday.

Kicking off the week with a significant surge, Bitcoin initially traded above the $46,000 price threshold and eventually soared past the $47,000 mark, marking an over 6% spike compared to its closing value on Sunday.

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