Bitcoin has observed a sharp rally beyond the $47,000 level as data shows buying pressure on Coinbase has displayed no signs of letting off.
Bitcoin Has Surged More Than 4% In Last 24 Hours As ETF Deadline Nears
After the asset’s indecisiveness over the last few days, the cryptocurrency has appeared to have picked its direction in the last 24 hours, as its price has increased sharply.
At the peak of this surge, the coin had crossed beyond the $47,300 mark, but since then, the coin has registered some pullback as it’s now down to $46,500. The below chart shows how Bitcoin has performed during the last few days.
With this surge, the coin is up over 4% in the last 24 hours. The only cryptocurrencies in the top 20 market cap list that have attained better returns during this period are Solana (SOL) and Bitcoin Cash (BCH).
This latest rally to levels not visited since March 2022 has come for the cryptocurrency as the US SEC deadline for a decision on BTC spot ETFs is approaching fast.
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