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While Ethereum saw a half-percent increase but stayed below the $1,800 mark, Bitcoin held steady, gaining roughly 1% to hover comfortably above 34,000 levels.

On Monday of this week, Bitcoin and other cryptocurrency tokens maintained their positive trend. Every cryptocurrency token entered the early trading, sustaining the momentum from the previous weekend. The recent increase in cryptocurrency was aided by the excitement surrounding the regulatory approval of a spot bitcoin exchange-traded fund (ETF) listing.

As the biggest cryptocurrency token gained almost 1% and managed to stay well above 34,000 levels, Bitcoin remained stable. But Ethereum, its biggest rival, saw a half-percent increase as well but managed to stay below the $1,800 mark. The majority of altcoins were seeing profitable trades.

Because of the general optimism about the possible approval of Bitcoin Spot ETF applications in the US, the cryptocurrency managed to keep its position above the $34,000 barrier.

With $1.7 billion in trading activity, the ProShares Bitcoin Strategy ETF (BITO) saw its second-largest trading week to date. Meanwhile, the Grayscale Bitcoin Trust (GBTC) posted $800 million in trading volume, which may have contributed to the optimistic mood of the market as a whole. Ethereum, however, continued to trade at a valuation higher than $1,700.

On Monday, the vast majority of popular cryptocurrency tokens saw increases in price. Chainlink and Polkadot both gained three percent, although Solana increased by almost one percent. In the early trade, XRP, Cardano, and Polygon all saw gains of roughly 2% apiece. Stablecoins tied to the dollar also increased slightly.

The value of the world’s cryptocurrency market was trading much higher, having increased by 6% on the previous day to reach the $1.26 trillion mark. Nonetheless, the total trading volume reached $27.37 billion, an increase of over 13%.

At the end of the week, Bitcoin had gained an incredible 15%. Although BTC stayed below its local resistance of $35,000, it remained in a favourable position throughout the weekend. At the moment, the price is centred at $34,300, while ETH is trading marginally above the $1,765 local support level.

Notably, a number of major macro events this week, including as the US FOMC meeting, the monthly release of the US unemployment rate, US job vacancies, and the US non-farm Employment Change, have a substantial impact on the cryptocurrency market. The cryptocurrency market may become more volatile as a result of these occurrences.