The world’s largest digital currency has risen more than 12% since the beginning of June. On Wednesday, its price topped $30,000 to hit its highest level since April 14, according to Coin Metrics data.

Market players have attributed the jump to the news that U.S. asset management giant BlackRock had filed for a spot bitcoin exchange-traded fund tracking the market price of the underlying asset.

While that may be part of the reason, the outsized moved can be put down to another factor beyond the news flow surrounding large institutions taking steps to embrace bitcoin or other digital assets.
https://www.google.com/url?q=https://www.c[Suspicious link removed]m/2023/06/26/bitcoin-btc-is-up-12percent-this-month-in-part-due-to-thin-liquidity.html&sa=U&ved=2ahUKEwiLt-ni0N__AhU1oVwKHbYrDfcQxfQBegQIAxAC&usg=AOvVaw23fDlLINaYDEIpFCBRu6wl