Cryptocurrency analysts have identified the main reasons for the sharp growth of bitcoin

Cryptocurrency experts record another rise in the flagship asset BTC $98,261.86 Bitcoin 1.57% Market capitalization $1.94 trillion VOL. 24 hours $5.02 billion . Between June 15 and 21, BTC rose by 17%, returning to May levels.

The positive dynamics of bitcoin prompted other cryptocurrencies to grow as well. For example, Ethereum ETH $3,317.55 Bridged Ether (StarkGate) -0.21% Market capitalization $0.28 billion VOL. 24 hours $2.27 billion rose by more than 12% over the same period.

Analysts highlighted news that contributed to bitcoin’s growth:

• Investment giant BlackRock has applied to launch a spot bitcoin trust, iSHARES BITCOIN TRUST.
• Deutsche Bank, one of the largest financial conglomerates in Germany, is entering the digital asset market. The bank will start storing cryptocurrencies.
• Financial giants from Wall Street — Citadel and Fidelity — have teamed up to launch a decentralized crypto exchange. The trading platform was named EDX Markets. The exchange was launched on June 20.
• One of the world’s largest investment companies, Invesco, which manages $ 1.4 trillion in assets, has applied to launch a spot bitcoin ETF. In 2021, Invesco already tried to get approval for a similar instrument, but failed.

It is noteworthy that bitcoin has grown despite the pressure from the US Securities and Exchange Commission (SEC) on the crypto market. In early June, the regulator filed charges against the two largest crypto exchanges — Binance and Coinbase. At the same time, the SEC has started to expand the list of cryptocurrencies that it considers to be illegally issued securities. It has already included Cosmos (ATOM), Binance Coin (BNB), and Solana (SOL).

It is noteworthy that some members of the cryptocurrency community see the potential for BTC correction after the realized growth. For example, trader @Ninjascalp does not rule out the coin’s decline to $ 26,700 before the end of June.

At the time of writing, the main cryptocurrency is trading at $ 28,870, which is almost 8% higher than yesterday. The coin’s market capitalization is $ 605.9 billion, and daily trading volumes have surpassed $ 26.6 billion. According to CoinMarketCap, BTC transactions increased by 79.21% over the day, and bitcoin’s market dominance amounted to 49.4%.