June 20 (Cointime) - Bitcoin's price has continued to recover steadily, reaching $27,200 for the first time since June 7 despite negative market sentiments. The cryptocurrency is currently trading at $26,938, with a 2% increase in 24 hours. If the bullish outlook stays grounded, Bitcoin's price could push beyond $28,000, bringing the psychological $30,000 hurdle within reach.

Blackrock's bid for a spot Bitcoin exchange-traded fund (ETF) has buoyed the market, with investors and traders believing that institutional investors will usher in the next bull market.