Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Rapid gains in bitcoin prices seemed to pause Wednesday morning as traders likely took profits on a week-long rally, bumping bitcoin prices as much as 25% on hopes of a spot exchange-traded fund approval in the U.S.
The CoinDesk Market Index , a broad-based tracker of hundreds of tokens, rose 0.42%, suggesting slight gains across the overall market. “What we are potentially seeing is a permanent thawing of so-called ‘crypto winters.’ While the digital asset market will always have bulls and bears, institutional adoption is pushing us closer to perpetual spring,” shared Diogo Mónica, co-founder at Anchorage Digital, referring to the many spot ETF applications.
Elsewhere, crypto trading firm QCP Capital said in a Telegram broadcast that the anticipation of a spot bitcoin ETF was currently driving outsized demand for the asset.
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