Here are four factors supporting the argument for an upcoming Bitcoin bull run as BTC price breaks above $35,000.
Here are four factors supporting the argument for an upcoming Bitcoin bull run as BTC price breaks above $35,000, an 18-month high.As the chances of a Bitcoin exchange-traded fund being approved rise, six-figure BTC price predictions are also becoming increasingly common, particularly now that the April 2024 halving is less than 180 days away.) price trends often exhibit cyclical behavior.
Significant stakeholders are showing confidence in Bitcoin by increasing their holdings. On-chain analytics have revealed a trend reversal, wherein major investors are trading stablecoins for more Bitcoin, which could potentially add momentum forGlassnodes data shows Bitcoin’s Accumulation Trend Score is currently 1 , indicating that on aggregate, larger whale entities, which are a big part of the network, are accumulating..
Main take away of today: Bitcoin makrket Cap went up by more than $50 billion in minutes, and very likely the money flowing into Bitcoin were less than $500 million The cryptosphere’s Fear & Greed Index, a barometer of investor sentiment, registered a notable score of 72, hinting at prevailing “greed” in the market.This shift in market sentiment has been a precursor to price rallies in the past and could be an indicator of an upcoming bull run.
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