At the beginning of this month, Bloomberg analyst James Seyffart revealed that there was a 90% chance that U.S. regulators would approve a spot HBAR ETF. The market seems to be responding to this situation, as this product is receiving more attention due to the continued price gains of Hedera and the cryptocurrency market in general.
News about the HBAR ETF and the 50% gains in the last week have also boosted market sentiment to its highest level since early December, indicating that many positive conversations are being generated around the token. This could create high buying pressure that could further push HBAR's price gains.
Social volumes have also increased to March levels, and this also shows that more people are talking about the HBAR token and its price movements, which could also be a driver of its price growth.
In summary, the continued gains and the growing debate about the approval of a spot HBAR ETF make it likely that the bullish trend is not over and that more gains will occur. The increasing bullish sentiment could also contribute to greater buying pressure that will drive the price surge.