{"id":8918,"date":"2023-10-24T03:57:18","date_gmt":"2023-10-24T03:57:18","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=8918"},"modified":"2023-10-26T04:52:31","modified_gmt":"2023-10-26T04:52:31","slug":"bitcoins-meteoric-rise-to-35k-crypto-stocks-bullish-2023-and-california-crypto-atm-regulations","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/bitcoins-meteoric-rise-to-35k-crypto-stocks-bullish-2023-and-california-crypto-atm-regulations\/","title":{"rendered":"Bitcoin\u2019s Meteoric Rise to $35K, Crypto Stocks\u2019 Bullish 2023, and California Crypto ATM Regulations"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As the day gets started today in Asia, traders found the U.S. Bitcoin ETF applications&#8217; positive advancements catalyzed a surge in Bitcoin (BTC) prices, which hit $35K overnight. Ethereum (ETH) mirrored this bullish trend, registering an 8.51% rise over the past 24 hours and currently priced at 1.8K. The broader cryptocurrency market also enjoyed positive gains, with Ripple (XRP) increasing by 8.51%, Solana (SOL) climbing 7.11%, and Dogecoin (DOGE) appreciating by 9.5%.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>What to Watch Out for Today<\/b><\/h2>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.coindesk.com\/markets\/2023\/10\/24\/a-wild-few-minutes-drives-bitcoin-above-35000-as-etf-excitement-starts-to-thaw-the-crypto-winter\/?_gl=1*1dxcc7k*_up*MQ..*_ga*MTQ1NDEyMDI5NS4xNjk4MTEzODA0*_ga_VM3STRYVN8*MTY5ODExMzgwMy4xLjAuMTY5ODExMzgwMy4wLjAuMA\"><b>Bitcoin Soars Past $35,000 Amid ETF Optimism:<\/b><\/a> <span style=\"font-weight: 400;\">Bitcoin&#8217;s price surged past multiple key levels, reaching a high of $35,000 in just a short span on Monday. This upward trajectory hasn&#8217;t been witnessed since May 2022, prior to some major setbacks in the industry. Behind the positive sentiment? The potential launch of bitcoin ETFs. While Grayscale&#8217;s attempt to transition its product into an ETF was previously rejected by the SEC, recent events have heightened the odds of approval. Not to be left behind, BlackRock, the world&#8217;s largest asset manager, has shown increasing interest in crypto, with CEO Larry Fink comparing its potential as a haven asset to U.S. Treasuries and gold. Their ETF application is currently with the SEC and they&#8217;re demonstrating confidence in its approval. With all these developments, will Bitcoin continue its bullish trend?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/decrypt.co\/202865\/crypto-stocks-beating-bitcoin-grayscale-microstrategy-coinbase\"><b>Crypto Stocks Outperform Bitcoin Over a Bullish 2023:<\/b><\/a> <span style=\"font-weight: 400;\">In 2023, Bitcoin experienced an impressive 87% growth, reaching $31,000. However, crypto-related public stocks surpassed this performance. Grayscale Bitcoin Trust (GBTC) shares soared by 196%, with the company looking to convert its fund into a spot Bitcoin ETF. MicroStrategy&#8217;s stock, which many view as a Bitcoin proxy, surged 161%, holding Bitcoin assets worth $4.8 billion. Meanwhile, Coinbase&#8217;s shares jumped 135%, especially after resisting a U.S. government lawsuit and getting BlackRock&#8217;s endorsement. In contrast, both Block (formerly Square) and PayPal saw their stock values decline despite their Bitcoin endeavors. Could Bitcoin follow the trend set by some crypto stocks?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/cointelegraph.com\/news\/california-bill-aims-cap-crypto-atm-withdrawals-1000-dollars-per-day-combat-scams\"><b>California Moves to Curb Crypto ATM Withdrawal Limits:<\/b><\/a> <span style=\"font-weight: 400;\">California&#8217;s legislature has introduced a bill that seeks to limit crypto ATM withdrawals to $1,000 daily. If passed, it would take effect from Jan 1, 2024. This move comes after legislators found excessively high limits on cash withdrawals on crypto assets at Bitcoin ATMs, with some having withdrawal limits as high as $50,000. With over 3,200 Bitcoin ATMs in the state, the aim is to mitigate scams and protect individuals from fraudulent transactions, which have been particularly prevalent due to the anonymity of cash transactions. Could reduced withdrawal limits lead to reduced crypto activity in California?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">For more news, <a href=\"https:\/\/t.me\/btsecom\">join BTSE\u2019s official Telegram channel now<\/a>.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><i>Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i><a href=\"mailto:feedback@btse.com\"><i>feedback@btse.com<\/i><\/a><i>\u00a0or on X @BTSE_Official.<\/i><\/p>\n<p class=\"p1\"><i>Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the day gets started today in Asia, traders found the U.S. Bitcoin ETF applications&#8217; positive advancements catalyzed a surge in Bitcoin (BTC) prices, which hit $35K overnight. Ethereum (ETH) mirrored this bullish trend, registering an 8.51% rise over the past 24 hours and currently priced at 1.8K. The broader cryptocurrency market also enjoyed positive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-8918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-bytes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin\u2019s Meteoric Rise to $35K, Crypto Stocks\u2019 Bullish 2023, and California Crypto ATM Regulations &#8212; BTSE Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.btse.com\/blog\/bitcoins-meteoric-rise-to-35k-crypto-stocks-bullish-2023-and-california-crypto-atm-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s Meteoric Rise to $35K, Crypto Stocks\u2019 Bullish 2023, and California Crypto ATM Regulations\" \/>\n<meta property=\"og:description\" content=\"As the day gets started today in Asia, traders found the U.S. Bitcoin ETF applications&#8217; positive advancements catalyzed a surge in Bitcoin (BTC) prices, which hit $35K overnight. Ethereum (ETH) mirrored this bullish trend, registering an 8.51% rise over the past 24 hours and currently priced at 1.8K. The broader cryptocurrency market also enjoyed positive [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.btse.com\/blog\/bitcoins-meteoric-rise-to-35k-crypto-stocks-bullish-2023-and-california-crypto-atm-regulations\/\" \/>\n<meta property=\"og:site_name\" content=\"BTSE Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-24T03:57:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-26T04:52:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.btse.com\/blog\/wp-content\/uploads\/2023\/10\/Copy-of-Market-Analysis-29-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"BTSE\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BTSE_Official\" \/>\n<meta name=\"twitter:site\" content=\"@BTSE_Official\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BTSE\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bitcoin\u2019s Meteoric Rise to $35K, Crypto Stocks\u2019 Bullish 2023, and California Crypto ATM Regulations &#8212; BTSE Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.btse.com\/blog\/bitcoins-meteoric-rise-to-35k-crypto-stocks-bullish-2023-and-california-crypto-atm-regulations\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin\u2019s Meteoric Rise to $35K, Crypto Stocks\u2019 Bullish 2023, and California Crypto ATM Regulations","og_description":"As the day gets started today in Asia, traders found the U.S. Bitcoin ETF applications&#8217; positive advancements catalyzed a surge in Bitcoin (BTC) prices, which hit $35K overnight. Ethereum (ETH) mirrored this bullish trend, registering an 8.51% rise over the past 24 hours and currently priced at 1.8K. 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