Why is Bitcoin price up today? By Cointelegraph

(BTC) price is up today, rising to an intra-day high of $35,280 and a new 17-month high before retracing slightly. The Bitcoin price increase today comes as hype around a spot BTC exchange-traded fund (ETF) crescendoed with the listing of BlackRock’s iBTC on the Depository Trust & Clearing Corporation (DTCC) website. While the listing seems to have been removed, Bitcoin’s bullish momentum continued as it is conventionally seen as a major step before an ETF is officially approved.

Although Bitcoin price has retraced from the $35,000 level, the reasons for this week’s price move could be a hint at the rally’s sustainability.