Bitcoin Rises Above $26,000 Again! What is the Source of the Ascension?

After FTX announced its cryptocurrency assets, there was FTX-induced selling pressure in Bitcoin and altcoins and a retreat in the market.

At this point, while BTC fell below $ 25,000 after a long time, significant retreats were also seen in altcoins.

However, there was a rise in Bitcoin and altcoins in the last minutes and BTC rose above $ 26,000 again.

Although the exact source of this rise is unknown, it is considered to be due to the positive statements of Bank of England vice president Sarah Breeden.

Sarah Breeden stated in her statement that cryptocurrencies should not be considered as gambling and said:

“Cryptocurrencies are better considered within the framework of financial services rather than gambling.”

Bank of England Başkan Yardımcısı Sarah Breeden: Kripto paraların kumar yerine finansal hizmetler çerçevesinde düzenlenmesi daha doğru.

— Bitcoin Sistemi (@bitcoinsistemi) September 12, 2023

Bitcoin, which rose to $26,330, continues to be traded at $26,157 at the time of writing.

*This is not investment advice.