A surge in Bitcoin (BTC) prices today may be in response to increased speculation that an exchange-traded product could finally be approved in the coming weeks.
BTC prices are up 7% over the past 24 hours and have surged a whopping 32% over the past week, according to CoinGecko. This bullish price action for BTC only may be a form of front-running by big bag holders in anticipation of a futures exchange-traded fund (ETF) approval by the United States Securities and Exchange Commission.