Cryptocurrency world has been busy with geopolitical events and regulatory approvals in recent weeks. Bitcoin (BTC) recently hit a new high, surpassing the $70,000 threshold. However, in recent days, as a result of Iranian airstrikes on Israel, many cryptocurrencies, especially Bitcoin, have seen sharp declines.

News from the Hong Kong Securities and Futures Commission had a positive impact on the markets. The Authority announced spot ETF approval for both Bitcoin (BTC) and Ethereum (ETH). This approval accelerated the recovery in the markets and helped investors regain confidence. However, no official statement has yet been made about this development.

Current Situation in Cryptocurrency Markets

How Hong Kong's Spot ETF Approval for Bitcoin and Ethereum Impacted Markets

According to the latest data, the value of the 10 largest cryptocurrencies by volume has increased in the last 24 hours. Bitcoin is currently trading at $66,500. Ethereum’s value increased by 5.69 percent to $ 3,266. Binance Coin (BNB) is trading at $578, while Toncoin (TON) is trading at $7.06.

For the future of the market, all eyes are on the official announcements to be made by the Hong Kong Securities and Futures Commission. Such developments can significantly affect market dynamics. Experts point out how a single piece of news can affect the market and advise investors to make their risk assessments carefully. It is emphasized that investors should be prepared for sudden market movements and should always think in a broad perspective.

(*) This content should not be considered as investment advice.

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