BTC Surges 5% to $116K as Spot ETF Approval and Binance Milestone Drive Market Optimism

Bitcoin (BTCUSDT) has experienced a notable price increase of 5.05% over the past 24 hours, with the current price on Binance at $116,611.63 and a 24-hour opening price of $111,009.35. This upward movement is primarily attributed to ongoing bullish sentiment following the U.S. Securities and Exchange Commission’s approval of multiple spot Bitcoin ETFs, which has expanded institutional and regulated investment in Bitcoin. Additionally, heightened trading activity around Binance’s 8th anniversary celebrations and strong market momentum have contributed to increased demand. The broader market remains bullish, with Bitcoin’s market capitalization at approximately $2.25 trillion and 24-hour trading volume across major exchanges reaching as high as $67.16 billion, reflecting robust investor participation and optimism.