Crypto Market Soars with Bitcoin and Altcoins Surging to New Highs

Bitcoin has surged by 9% in the past 24 hours, reaching $29,000, as traditional financial firms such as BlackRock, Fidelity Investments, and Deutsche Bank make moves to tap into the crypto market. BlackRock has filed paperwork for a spot bitcoin exchange-traded fund, while a new cryptocurrency exchange backed by Citadel Securities, Fidelity Investments, and Charles Schwab has begun executing trades. Deutsche Bank has also applied for a digital-asset custody license with Germany's regulator. Meanwhile, Binance's U.S. arm has avoided a broad asset freeze requested by the SEC and is up almost 3%.