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Bitcoin Reaches Highest Price in Over a Year As BlackRock Resubmits ETF Application

July 4 (Cointime) - Bitcoin reached its highest price in over a year on Monday, with a 2.4% increase to $31,250. BlackRock's resubmission of its application for a Bitcoin ETF caused its shares to surge. Despite crises in the past year, Bitcoin's price has risen by 62%.

BlackRock's plan to establish America's first spot Bitcoin ETFs is seen as a mark of institutional acceptance for crypto and could make it easier for institutions to gain exposure to Bitcoin. The total crypto-market capitalization has increased from $911 Billion a year ago to $1.25 Trillion today, with altcoins making up over 65% of the total crypto-market.

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