Bitcoin Heading for Strongest Weekly Close Since March, All Eyes on Friday's Options Expiry

The world’s largest cryptocurrency Bitcoin (BTC) is poised for the strongest weekly close after March this year, amid a flurry of applications for spot Bitcoin ETF from some of the largest financial institutions in the world.

Bitcoin is currently flirting around $30,000 levels after making strong gains earlier this week. As of press time, BTC is trading at $30,015 with a market cap of $582 billion.

BlackRock has put its foot in the door with its spot Bitcoin ETF application, thereby triggering a major euphoria in the crypto market. “An approval would profoundly impact the market structure of Bitcoin, as it would reduce the barriers for financial advisers to offer exposure” to the token.