Bitcoin trading volume has surged by 46% in the past 24 hours.
Traders eye the $30,600–$31,590 range for potential gains.
Bitcoin, the largest cryptocurrency by market capitalization, has been making significant strides with a remarkable bull run. Over the weekend, it surged from $27,132 to $28,494 before retracing to $27,601. Despite a bearish September, this past week has seen a resurgence of bullish sentiment, resulting in some price volatility.
The fact that BTC is trading above the $28,000 mark has ignited positive momentum within the crypto community, as this price range was eagerly anticipated by traders. Much of this optimism stems from the anticipation of ETF approvals by the U.S. Securities and Exchange Commission (SEC), which have been currently postponed.
As a positive sign of impending ETF approvals, investment management firm VanEck launched its Ethereum Strategy ETF on October 2nd, listed under the ticker EFUT and available for trading on the Chicago Board Options Exch
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