Market Wrap: Bitcoin Ends Week Notching 14% Gain

Market Wrap: Bitcoin Ends Week Notching 14% Gain
Bitcoin ended the week performing strong, gaining nearly 14% as regulatory fears faded and sentiment turned bullish in anticipation of a bitcoin futures-backed exchange-traded fund (ETF) in the U.S. by the end of the year.Over the past 24 hours, bitcoin stayed roughly flat, hovering above $54,000 as of Friday afternoon. The largest cryptocurrency by market capitalization also surpassed $1 trillion again this week.“We have broken the key point of breakdown level from May, which was around $50K,” wrote Blockware Intelligence in a research report. “In the short term, we are seeing some resistance from this last $56K-$58K area, which is…