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Bitcoin price has flipped above $70,000, while Ethereum is above $3,500. This is after news that Hong Kong is likely to approve its first spot Bitcoin and Ethereum ETFs as soon as early next week. Bitbot (BITBOT) is nearing the $2.3 million mark in presale amid investor interest.

Bitcoin is trading up, currently green as price hovers above $70,900. The leading cryptocurrency’s potential to break out to a new all-time high has received a new boost as reports emerge Hong Kong is set to approve its first spot Bitcoin ETFs.

BTC’s upside flip is likely to push other altcoins higher, and one of the new tokens attracting the most attention is Bitbot (BITBOT).

There are reports that Hong Kong could approve the first spot Bitcoin and Ethereum ETFs in the region as early as Monday.

A Bloomberg report on Friday quotes sources as saying that the Securities and Futures Commission (SFC) is set to give it nod, just days after major Chinese funds applied to issue spot Bitcoin ETFs.

While Hong Kong’s decision is not officially communicated as of writing, there’s growing positivity in the market already. In January 2024, when the US Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs, the price of BTC skyrocketed amid massive demand.

BTC reached its ATH of $73,737 in March, riding halving and spot ETFs sentiment. The SEC has called for public participation on spot ETH ETFs.

Today’s news has seen the bellwether crypto flip from lows of $69,500 to currently trade above $70,900. Ethereum has also gained slightly, currently hovering above $3,520.

Should the ETFs draw inflows as witnessed with BlackRock’s IBIT and others, there’s potential for BTC, ETH and other coins to rally in coming weeks.

Also likely to attract investor are new tokens that could tap into the overall market strength and specific fundamentals to emerge as top performers in the market in 2024 and beyond.

BitBot is the pioneering non-custodial crypto trading bot, poised to enter the crypto market at a time traders are keen on available opportunities.

While competing Telegram trading bots are custodial solutions – that is they control users’ private keys and thus hold their assets – Bitbot takes the approach of ‘not your keys, not your assets.” In short, Bitbot is where a Telegram bot user has the full control of their private keys and wallet.

Security is key to crypto traders, who unfortunately have had to learn the hard way given incidents involving top bots such as Unibot and Banana Gun.

By focusing on security through its partnership with Knightsafe, Bitbot has taken an early lead against potential rival trading apps.

Bitbot app’s AI capabilities add to the superior outlook, with users able to access all the advanced institutional-grade trading tools that make trading via bots such a huge market in the crypto space.

Bitbot offers all of these, including trade sniping, gem scanner, copy trading and automated execution, without compromising on user security and convenience.

The native BITBOT token is in presale and users will get access to benefits such as revenue-sharing, trading discounts and airdrops. Presale participants can buy BITBOT at the still heavily discounted price of $0.0155 in stage 10.

Early bird investors have pushed the presale to near $2.3 million. Notably, there’s just five stages to go before Bitbot hits the final stage 15 and tokens debut in the market. This could be at a time when Bitcoin and Ethereum are in parabolic mode.

That means current presale prices could be a real bargain and opportunity.

To learn more visit the Bitbot website.

The post Hong Kong’s spot ETFs report drives BTC higher; investors pile into Bitbot presale appeared first on CoinJournal.

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