Share this article
Bitcoin Crosses $29K for First Time in Over a Month
The world’s largest cryptocurrency has rallied over 8% in the last 24-hours on the back of various traditional finance players jumping into crypto.
Updated Jun 21, 2023, 3:46 p.m. Published Jun 21, 2023, 12:53 p.m.
Bitcoin , the world’s largest cryptocurrency by market value, has rallied above $29,000 for the first time in over a month. This comes following an uptick in bullish sentiment in the crypto market as traditional finance (TradFi) players push further into crypto.
Last week, investment giant BlackRock (BLK) filed for a U.S. bitcoin exchange traded fund (ETF) and on Tuesday, Deutsche Bank said it had applied for a digital asset custody license in Germany.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Adding to this, crypto exchange EDX Markets, which received funding from financial heavyweights including Charles Schwab (SCHW), Citadel Securities and Fidelity Digital Assets, started its trading services.
Bitcoin appears to have outperformed the majority of other digital assets following these advancements, gaining over 8% in 24-hours and pushing to a level it has not seen since May 6, 2022.
Some traders see further gains ahead, with the cryptocurrency possibly approaching $30,400.
Read more: Bitcoin Trendline Breakout Suggests Continued Rally to $30.4K: Analyst
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
