ALBAWABA - Bitcoin jumped to its highest level in the current month of June during Tuesday's trading session, surpassing the $28,000 level before later reducing its gains to below that level.
Bitcoin rose by around 5% to $28,064 during Tuesday's session, which is the highest level since the beginning of May, before reducing its gains slightly to $27,941.
The gains came for the world's largest cryptocurrency by market value after BlackRock, the world's largest asset manager, applied to issue a spot bitcoin exchange-traded fund (ETF), which will be the first of its kind in the United States.
Cryptocurrencies also received a boost over the weekend after Binance reached an agreement to avoid freezing assets in the US.
The agreement aims to ensure that only Binance.US employees have access to clients' funds in the short term, or in other words, to ensure that clients' assets do not go abroad.
