BlackRock increases FOMO holdings, with high sentiment! Is Bitcoin about to hit a new high again?
  fazzaco 2024-09-30 15:30:58
Description:Bitcoin has surged by 10% in the past month and is currently approaching an important position. Will it continue to rebound or fall in the future?

Bitcoin has surged by 10% in the past month and is currently approaching an important position. Will it continue to rebound or fall in the future?


Recently, the price of Bitcoin has continued to rise, with a cumulative increase of over 10%. On September 27th, Bitcoin rose to a high of $66498, setting a new monthly high.


At present, Bitcoin is hovering around $65000, temporarily at $65540, reaching the top of its downward trend.


Bitcoin price trend chart, source: TradingView


Recently, BlackRock IBIT has continued to increase its holdings of Bitcoin. According to data from Lookonchain, BlackRock has increased its holdings of 7578 BTC worth approximately $497.6 million over the past four days, further fueling investor bullish sentiment. As of press time, BlackRock holds a total of 365310 BTC, totaling $24.04 billion, second only to Binance and Satoshi Nakamoto.


From the trend chart, it can be seen that Bitcoin may change its position at any time. Will it rise and break through, or fall back again.


In Santiment's view, Bitcoin may first fall and then rise in the short term. The institution stated in a post that "currently, the number of bullish views significantly exceeds bearish views. However, historically, the market has always been developing in the opposite direction to people's expectations.


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