According to Rebecca Stevens of The Block Research, the price increase last week and the promising news about the potential approval of the spot bitcoin ETF were likely the main reasons for this increase. Stevens said, “Bitcoin‘s latest rally and the potential of the spot ETF have encouraged people to take more interest in this digital asset,”. “This new interest is also being shown in more common ways, like more people visiting the Bitcoin page on Wikipedia.”

This information shows that Bitcoin‘s popularity is increasing and the interest in the crypto market is high. Hence, one can consider the increase in views of the Wikipedia page as a reflection of this interest.

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On October 23rd, the Bitcoin price drew attention by exceeding $35,000 for the first time since May 2022. Considered the largest in the global crypto market, Bitcoin has increased by 13% last week and has almost risen by 29% over the past month.

On Spot Bitcoin ETF

Analysts at JPMorgan, led by Nikolaos Panigirtzoglou, pointed out last week that the timing of the approval of spot bitcoin ETFs is still uncertain, but it can likely happen before January 10, 2024, the deadline for applications from companies like Ark Invest and 21Shares. The US Securities and Exchange Commission (SEC) faces various deadlines related to applications for a spot bitcoin ETF, and this is the earliest one.

These developments show that the dynamics in the crypto market and investors’ interest in spot bitcoin ETFs are increasing. This increase in the price of Bitcoin and the expectations of ETF approval has become an important agenda item in the crypto world.

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