Bitcoin bulls eye $31,500 as ETF optimism propels crypto prices higher

- Crypto prices resumed their uptrend in trading on Monday after multiple firms refiled their spot Bitcoin exchange-traded fund applications to name Coinbase as the exchange partner for surveillance-sharing agreements. The refilings came in response to reports that the U.S. Securities and Exchange Commission returned the applications, saying they were “inadequate.”

Crypto-related stocks in particular made notable gains as the ETF re-filings helped spark a renewed interest in Coinbase , Microstrategy , Marathon Digital Holdings , and Riot Platforms .Data provided by TradingView shows that Bitcoin spiked from a daily low of $30,600 to a high of $31,432 in the afternoon, with bulls looking as though they plan to continue to push the price action higher while bears struggle to defend resistance at $31,500.July Bitcoin futures prices were firmer in early U.S.

The news had precisely that effect, with BTC climbing above $31,000 in the afternoon and bulls looking to continue the push higher.

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