Bitcoin's Price Surge Continues, Analysts Predict Future Growth

Bitcoin experienced the largest short squeeze this month as it surged above $28,000, causing traders who positioned for prices to drop to lose $36.6 million in liquidations over the past 24 hours. The price surge comes after a number of large financial services institutions announced major crypto initiatives, including Deutsche Bank applying for a digital asset custody license in Germany and BlackRock filing for a spot BTC exchange-traded fund. This news has served to somewhat blunt the relatively bleak regulatory environment that the United States finds itself in.