The post Bitcoin breaks the $30K barrier despite legal battles and rate hike fears appeared on BitcoinEthereumNews.com.

Bitcoin remains the undisputed king in the crypto realm, showcasing its influence in the entire digital assets market. Purely based on its performance amidst global economic and legal challenges, Bitcoin has captivated the eyes of both institutional investors and retail investors.  The leading digital currency is set to experience a bull rally in the coming months as it closely reaches the $30,000 mark. The sudden spike has been caused by developing events around the SEC approving spot Bitcoin ETF, which’s been long anticipated by the crypto community.  On the other hand, XRP has experienced a 6% rise after its legal victory against the US Securities and Exchange Commission (SEC). Judging from the events around Bitcoin and XRP, the crypto winter might come to an end sooner than expected. Bitcoin soaring rally- is the bull market here? Bitcoin’s soaring rally has been a spectacular journey with surges up and down the crypto market. The fluctuations have been caused by events around the digital asset, including lawsuits, rate fears, and regulatory challenges.  However, bitcoin has recently experienced a bearish trend since last year, as it hit its lowest support level of $16,000 in late November. At the time of writing, CoinMarketCap and Binance have BTC trading at $30,020 and $30,023 respectively against the dollar. CoinGecko reports that the global crypto market cap today stands at $1.18 Trillion, a 5.03% change in the last 24 hours and 24.06% change one year ago. As of today, BTC’s market cap stands at $586 Billion, representing a BTC dominance of 49.79%. Meanwhile, Stablecoins’ market cap is at $124 Billion and has a 10.57% share of the total crypto market cap. The recent rapid spike to levels above $29,800 has been a result of the news on Bitcoin ETFs that have surged in price. On Thursday, BTC…

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Filed under: News - @ October 20, 2023 2:22 pm