June 21 (Cointime) - Bitcoin surged over 6% in the last 24 hours, reaching the $29k level for the first time since May. This rally is attributed to increased institutional interest in the cryptocurrency market, with BlackRock filing for a Bitcoin ETF and Fidelity, Schwab, and Citadel backing a crypto exchange.
The current market momentum suggests that Bitcoin could break past the $30k psychological level in the near term. The total cryptocurrency market cap also surged past $1.1 trillion as a result of this rally.
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