BTC has witnessed a huge rollercoaster ride throughout this year as its price moving through volatile trends. However, recent data suggests that the market sentiment is beginning to stabilize and is showing bullish optimism among retail and institutional investors.
The fear and greed index, which shows market sentiment based on factors like volatility, volume, and social media trends, suggests that traders are now ready to start a bull rally as major shorts are getting liquidated as the US ETFs from major giants like BlackRock and Fidelity recorded ATH inflows of combined $4 Billion in last two days. Which has sharply spiked BTC's price from $62,000 to $68,400 as per CMC.
BTC has broken its 200-day moving average, which is a leading indicator to suggest the upcoming pattern of BTC bullish sentiment. This upward trend has allowed BTC to break past the 200-day moving average, which had served as resistance around the $63,000 price mark.
As of now, at the time of writing this article, BTC is trading around $67,900 and has seen a price jump of 3.6% in last 24 hours and over 11% in the past seven days. It's trading volume has jumped by 40% and shows record of $53.7 Billion in the last 24 hours and has a market capitalization of $1.34 Trillion.