Bitcoin (BTC) price is up today, reaching a 2023 high at $31,431. The fresh BTC price year-to-date high comes amid recent growing institutional interest in Bitcoin from companies like BlackRock (NYSE:BLK) and Fidelity Investments, both of which filed for a spot Bitcoin ETF within the past two weeks.
The institutional interest seems to have negated the negative news of the SEC cracking down on Binance and Coinbase (NASDAQ:COIN) and bullish traders continue to overpower BTC shorts.