Bitcoin price surges 4% in past 24 hours

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Bitcoin price surges 4% in past 24 hours

Over the weekend, Bitcoin's value reached significant heights, up 4% in the past 24 hours. It rose significantly to $28,200 on Oct. 2, marking its highest trading value since August. This growth comes amidst persistent anticipation surrounding the future of spot Bitcoin exchange-traded funds.

The US SEC has issued a number of proposed pending spot Bitcoin ETFs.

The SEC has made it clear that the court's actions do not indicate that any conclusions have been reached. The federal government is awaiting public comments on several aspects of the proposed spot Bitcoin ETFs, including their potential vulnerability or resilience to fraud and manipulation.

These proceedings will likely greatly impact the trading of spot Bitcoin ETFs on commodities exchanges. If the SEC approves the proposed rule changes, new trading opportunities for Bitcoin may arise.

The crypto market is still awaiting the SEC's decision, which means that Bitcoin's value remains advanced. Bitcoin is ranked as the number one by market cap and the BTC price has surged by 3.5% over the past 24 hours. BTC's market capitalization is $547.76 billion, with a trading volume of $12.53 billion during the 24th hour. The global cryptocurrency market is valued at $1.11 trillion, with a 24 hour volume of $34.95 billion. Bitcoin dominance is currently at 49.26%.