Bitcoin Breaks $30,000 For First Time In a Year

Bitcoin has broken $30,000 for the second time this year amid bullish sentiment in the market following a number of traditional finance (TradFi) players pushing further into crypto.

The cryptocurrency gained more than 5% on the day, trading at $30,000. The last time bitcoin reached above $30,000 was on April of 2023, according to TradingView data.

The cryptocurrency’s rally comes as several TradFi giants including BlackRock, Invesco and WisdomTree filed for spot bitcoin ETF applications. Meanwhile, EDX crypto exchange, which is backed by major TradFi players, also launched on Tuesday. The exchange is backed by Fidelity Digital Assets, Charles Schwab and Citadel Securities and will offer four tokens in the U.S., including bitcoin, ether, bitcoin cash and litecoin. Bitcoin cash (BHC) has also rallied following the news, gaining 25% on the day.

Other developments include banking giant Deutsche Bank announcing Tuesday that it had applied for a digital asset custody license in Germany.

TradFi players appear not to be deterred by a regulatory crackdown from the U.S. Securities and Exchange Commission against crypto exchanges.

CORRECTION (June 21, 15:40 UTC): Corrects headline, story to say bitcoin hit $30k level second time this year.