In the past week, the cryptocurrency market has experienced positive developments, with Bitcoin leading the way in a recovery and potentially signaling a broader rally. Notably, there has been a renewed interest from institutional investors in cryptocurrencies, particularly Bitcoin, as major financial firms have filed for spot Bitcoin ETFs in the US. These filings have improved the likelihood of the SEC approving the first spot Bitcoin ETF. The increasing institutional trust in Bitcoin is viewed as a positive factor, attracting both institutional and retail investors to the crypto market.
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