The BTC price rose to 28,670 USD on Wednesday. The weekly gain is estimated at 5.8%, and the daily gain at 1.8%.
The market has successfully breached previously specified resistance levels, both at the 27,800 USD and the 28,500 USD marks.
This surge is based on fake news of approval for a BlackRock exchange-traded fund. This information was refuted immediately, but buyers had already reacted. Seasonal bullish factors are also pushing the price higher.
An additional support factor for BTC is news that emerged at the beginning of the week concerning the intention of the US Securities and Exchange Commission (SEC) not to contest the court order for Grayscale. This decision allows the company to convert its GBTC into a Bitcoin ETF. The market sees this move as a step closer to the approval of spot Bitcoin ETFs in the cryptocurrency sector.
The total cryptocurrency market capitalisation has increased to 1.09 trillion USD. BTC's share has skyrocketed to 51.2%, while the share of ETH has dropped to 17.3%.
Scroll launched Mainnet
The Ethereum Layer 2 network, Scroll, has confirmed the launch of the zkEVM second-layer network. According to the information released, the deployment of the bridge started on 8 October, with around 750 ETH connected so far, involving 1,000 unique users and 1,500 transactions.
EVER dropped by 20%
Everscale (EVER) tokens have dropped 20% after the project team reported a token theft. EVER is ranked 391st in the cryptocurrency rankings, with a market capitalisation assessed at 50 million USD.