BitcoinBTCNEARNews

Bitcoin regains $45,000 amid ETF chatter

1 Mins read

Bitcoin hit $45,000 as exchange-traded fund enthusiasm fuels newfound market enthusiasm.


Bitcoin regains ,000 amid ETF chatter - 1
Bitcoin 7-day price chart | Source: CoinMarketCap

As of press time, Bitcoin (BTC) is trading at just over $45,000 after its price increase by 5.6% over the last 24 hours. The coin’s price is seeing positive volatility as exchange-traded funds (ETF) and Bitcoin dominate the crypto discourse — according to hourly social media tracking data gathered by Santiment.

Daily social media trending tokens data from Santiment also indicates that Bitcoin tops the charts and accounts for 5.4% of all crypto-related social media chatter. Out of all this discourse, 48.7% is characterized by a positive sentiment, 33.4% by a negative sentiment, and the rest is neutral.


Bitcoin regains ,000 amid ETF chatter - 2
Social media 24-hour trending tokens. | Source: Santiment

Despite this market enthusiasm, Bitcoin’s current popularity is still far from the heights it had fallen from in June 2023. At the time, Bitcoin was mentioned in over one-quarter of all crypto-related social posts and often exceeded 15,000 social volume.


Bitcoin regains ,000 amid ETF chatter - 3
Bitcoin’s price (green), social volume (blue), and social dominance (red) chart | Source: Santiment

With such positive sentiment, Bitcoin long-term holders hold onto their coins with particular conviction. According to data from MacroMicro, the percentage of Bitcoin’s supply that has not been moved for one year or more is now at this year’s high of 70.5%.


Bitcoin regains ,000 amid ETF chatter - 4
Bitcoin supply last active 1+ years ago. | Source: MacroMicro

This is a particularly good sign, considering that Bitcoin that is not being moved often is Bitcoin that is not likely to be sold anytime soon. Bitcoin’s reserve further highlights this on exchanges being near the lowest point it has seen in a year back in December, according to CryptoQuant data. Bitcoin that is not on exchanges is often whose owner does not expect to sell anytime soon.


Bitcoin regains ,000 amid ETF chatter - 5
Bitcoin exchange reserve. | Source: CryptoQuant

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.