According to Cointelegraph: Bitcoin's price is once again showing signs of resilience as it aims at the $38,000 mark on Nov. 23, riding on an "aggressive bid" that appears to be dispelling concerns over Binance's hefty $4.3 billion fine. Bitcoin's price surge to $37,870 has changed the market mood drastically over the last 24 hours.
Previously, the threat of U.S. legal action against Binance – the world's largest cryptocurrency exchange – prompted a wave of long liquidations, pushing the Bitcoin price to a one-week low. However, the market made an equally impressive recovery, surprising some investors with its strength.
Analysts have once again started talking about the potential U.S. approval of a Bitcoin spot price exchange-traded fund (ETF), which could be just about 50 days away. The recent events at Binance have been seen by some as creating a suitable backdrop for this long-awaited institutional investment product's approval.
