Bitcoin Price Volatility Returns Prior To ETF News, Reaches $1,350 All-Time High
Volatility has returned to Bitcoin as the world awaits news of the ETF’s fate, prices reaching a new high of $1350.
While no changes have occurred regarding the approval of the Bitcoin ETF, the cryptocurrency’s price has started fluctuating in anticipation.
A surge in trading activity saw volatility return to the market, Bitcoin going from $1,200 to $1,350 within minutes, only to fall by around $100 immediately as auto-sell barriers were reached.
Exchange data shows large orders being placed - one for 1,140 BTC on Poloniex - indicating large bagholders are manipulating the market.
Earlier on Friday, a sum of 750 BTC was reported to be on the move, changing addresses around every five minutes.
As the cryptocurrency and wider finance communities await the US Securities and Exchange’s decision on the ETF, it is widely expected that a positive outcome will send the Bitcoin price higher still - some say up to $3,000.
A negative outcome, conversely, could see prices dip below $1,000 once more.
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