Bitcoin (BTC) has been highly volatile recently, attracting attention and speculation from traders and investors. Bitcoin prices rose above $31,000, driven largely by institutional investors anticipating the possible approval of a Bitcoin exchange-traded fund (ETF).​

If the U.S. Securities and Exchange Commission (SEC) approves a Bitcoin ETF, it would mean that Bitcoin could be traded indirectly on traditional stock markets like stocks and index funds.

This development is likely to further drive demand for Bitcoin and cryptocurrencies. Predictions suggest that the introduction of a Bitcoin ETF could push the price as high as $40,000 in the coming weeks. Similar to the rapid surge in gold prices following the launch of the ETF in 2004, institutional investors expect a similar impact on Bitcoin prices.

On-chain data shows that institutional investors appear to be accumulating Bitcoin since the news about the ETF surfaced. Whale investors' Bitcoin trading activity has also increased, with a significant increase in large transactions last month. This shows that the application of ETFs has played a significant role in enhancing investor confidence in the coin. However, the recent rejection of the Bitcoin ETF by the SEC on the grounds of deficiencies and defects has slowed down the upward momentum of the Bitcoin ETF.

Fortunately, the rejection does not eliminate the possibility of BTC reaching the $40,000 milestone, although it may take longer than initially expected. An amended application for a Bitcoin ETF has been submitted to the SEC, addressing the identified deficiencies. If approved, it could spark a rally that could push prices to $35,000 by August and above $40,000 in the coming months. The Bitcoin price has reacted positively to this development.

The positive outlook for Bitcoin is benefiting other cryptocurrencies, including DigiToads. The meme coin has gained popularity after a successful pre-sale. It is now attracting traders who are showing keen interest in it.

DigiToads: Growing demand ahead of launch

Demand for DigiToads continues to grow as cross-chain investors flock to participate in the ongoing presale, which recently hit an all-time high of nearly $6 million.

Industry observers speculate that the surge is attributed to the profitability of DigiToads’ short-term and long-term investment goals. It is also due to its outstanding pre-sale performance despite the cryptocurrency bear market.

The TOADS pre-sale price started at $0.01 but quickly rose to $0.047 after completing 8 of the 10 phases. The fact that early investors saw a 370% increase in phase 9 also stimulated demand from latecomers. Due to demand for TOADS, more than 357 million tokens have been sold, raising more than $5.8 million during the pre-sale.

In addition to the presale, the cryptocurrency platform has other offerings, including a recently released set of 3,500 non-fungible tokens (NFTs) for minting. Web3 enthusiasts will now see Toads Friends as NFTs they can purchase to increase their earnings on DigiToads.

Investors who understand the cryptocurrency market are taking steps to participate in the potential growth of TOADS. After the presale ends, the token will be listed on BitMart and Uniswap.

Experts also analyzed TOADS’s interaction with decentralized exchanges, concluding that it has growth potential.

in conclusion

Despite the SEC's rejection of a Bitcoin ETF, there is still a possibility that Bitcoin could rally to $40,000. The increasing demand for TOADS during the DigiToads presale indicates a growing interest in the meme coin. As DigiToads achieves new milestones, its performance and earnings potential are attracting cross-chain investors. As the presale progresses and the token prepares to be listed on BitMart and Uniswap, investors anticipate potential earnings after its launch.