Bitcoin opened the week with strong performance, with the main question being what's fueling this surge and whether it can be sustained. On October 23, the price surged past the $31,000 mark, reaching its highest point in nearly four months when BTC was trading at $31,800.
This recent bullish momentum is driven by growing anticipation among analysts and investors regarding potential developments indicating the imminent introduction of a spot Bitcoin ETF. In reference to Johnson's post, Eric Balchunas, a senior ETF analyst at Bloomberg, cautioned his followers against excessive enthusiasm, pointing out that the amended iShares (BlackRock) S-1 document suggests that BlackRock may be preparing to launch its own ETFs, marking another significant step in the launch process
