U.Today - After paring some of its gains, Bitcoin, the flagship cryptocurrency, has to reclaim the coveted $34,000 level. A clarification by the Depository Trust and Clearing Corporation (DTCC) likely contributed to the price spike.
DTCC listing stirs market
The sheer speculation surrounding the possibility of BlackRock (NYSE:BLK) and other Bitcoin ETF (TSX:EBIT) applicants getting the green light has driven Bitcoin to its largest two-day rally in the last seven months.This bullish sentiment faced when BlackRock's iShares Bitcoin Trust, known as IBTC, was abruptly delisted from the DTCC's roster. This move, whether due to a technical error or premature listing, led to a sharp decline in Bitcoin's price.
The prior listing had already spurred considerable market excitement since many viewed it as a step closer to an imminent crypto ETF launch and potential official endorsement.
However, the DTCC that an ETF's appearance on their website is a standard preparation step and doesn't indicate regulatory approval status. Interestingly, the ETF had been listed on the site since August. Following this clarification, the Bitcoin price reclaimed the $34,000 level.
A sea of green
According to CoinGecko data, is standing firm at $34,116 after an 18.6% growth over the past week. Ethereum, the second-most dominant cryptocurrency, is priced at $1,792.29, reflecting a 14% growth within the same period.Solana, with its price at $31.38, is the top performer after registering a whopping 29.8% rise over the week.
Bitcoin dominance currently stands at over 51%, according to CoinGecko data.