– BlackRock CEO Larry Fink’s remark links Bitcoin’s value to “human freedom,” boosting confidence in its future.- Bitcoin’s price surges near $31,000, with a 90 percent chance of a spot Bitcoin ETF approval, but resistance at $32,000 looms.In a recent [ conversation](https://twitter.com/mikealfred/status/1716281633391968335) with value investor and Bitcoin enthusiast Mike Alfred, BlackRock CEO Larry Fink made a statement that caught the attention of crypto enthusiasts and investors alike.When asked about his perspective on Bitcoin’s future value, Fink posed a thought-provoking question, “What is the value of human freedom?” This cryptic remark underscored his confidence and bullish outlook on Bitcoin’s potential.Fink’s comments come after BlackRock’s application for a spot Bitcoin ETF with the U.S.Securities and Exchange Commission (SEC) earlier this year.Last week I spoke with Blackrock CEO Larry Fink.It was a nice conversation lasting about 15 minutes.
At the end, I asked him how valuable he thinks Bitcoin can be in the future.His answer came in the form of a question: what is the value of human freedom? Bullish.[pic.twitter.com/CKtcjppbzk] — Mike Alfred (@mikealfred) [October 23, 2023] Bloomberg’s analysts, Eric Balchunas, and Seyffart have raised the odds of a spot Bitcoin ETF approval to a staggering 90 percent.The recent Grayscale ruling serves as a significant precedent for such approvals.Prominent figures in the crypto industry, including Mike Novogratz and Cathie Wood, share this optimism and believe that a Bitcoin ETF is on the horizon.SEC Discussions and Bitcoin ETF Approval Odds The SEC has initiated constructive discussions with [ Bitcoin ETF issuers](https://www.crypto-news-flash.com/bitcoin-etf-approvals-impact-assessed-bitcoin-sv-jumps-inqubeta-passes-3-7-million/), significantly increasing approval odds.Bloomberg analysts have estimated the likelihood of a spot Bitcoin ETF gaining approval at an impressive 90 percent.This surge in optimism follows the precedent set by the Grayscale ruling, which has paved the way for similar approvals.
Notably, [ industry leaders](https://www.crypto-news-flash.com/michael-saylors-bitcoin-gamble-pays-off-big-and-hes-doubling-down/) like Mike Novogratz and Cathie Wood believe that a Bitcoin ETF could become a reality this year.Additionally, JPMorgan’s report on the prospects of SEC approval in 2023 has further fueled bullish sentiment throughout the global cryptocurrency market.Bitcoin Price Surge The cryptocurrency market is experiencing a renewed surge in positive sentiment, with Bitcoin’s [price climbing to nearly $31,000](https://www.crypto-news-flash.com/bitcoin-blasts-to-30785-amid-btc-etf-buzz-wooing-trillion-dollar-titans-blackrock-and-jpmorgan/).Traders are closely monitoring key technical indicators and chart patterns that suggest further upward momentum.
Over the past 24 hours, Bitcoin has seen a substantial 2 percent increase, adding to its impressive 10 percent gain over the past week.At the time of writing, Bitcoin is trading at around $30,663, with a 24-hour trading volume showing a notable 25 percent increase.As Bitcoin approaches the critical $32,000 level, market observers are keen to see if the bulls can maintain their momentum.While there is optimism about a potential breakout, traders are exercising caution.
Few believe that the path beyond $32,000 will be straightforward, with significant resistance to overcome.With Bitcoin at its forefront, the cryptocurrency market is experiencing a resurgence of momentum and enthusiasm.Notably, the coming months are likely to be pivotal in determining the direction of this dynamic industry.Macro Factors at Play In addition to technical factors, [macroeconomic data](https://www.crypto-news-flash.com/bitcoins-potential-correction-key-market-indicators/) plays a pivotal role in shaping Bitcoin’s trajectory.
With inflation consistently outperforming expectations, the upcoming decision by the United States Federal Reserve regarding interest rates on November 1 will be closely watched.These macroeconomic variables introduce an element of unpredictability into the market.Geopolitical events also add to the uncertainty.As Bitcoin bulls attempt to drive a major trend change by breaking free from a multi-month trading range, global events could either bolster or hinder their efforts.Best Crypto Exchange for Everyone – Invest in Bitcoin (BTC) and over 200+ cryptocurrencies on America’s most trusted crypto exchange.- Buy Bitcoin (BTC) easily and with low fees via PayPal and credit card.- Enjoy super-low trading fees and access to more than 400 trading pairs.
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