Bitcoin's price has surged by 14% in the past 24 hours, breaking through the $34,000 mark for the first time since May last year. The sudden uptick in price is attributed to a fresh wave of interest in upcoming spot ETF approvals and a significant increase in overall trading volumes across spot markets. Investment giant Blackrock may soon begin the process of "seeding" their spot ETF product, which is seen as another step in the process of launching. The sudden move upwards has left crypto market commentators and community members dumbfounded.
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