#BTC #bitcoin pumping once more what's behind the pump?

$BTC

Bitcoin (BTC) is on a roll today, surging over $29,500 and reaching a 2-month high What's fueling this surge? HERE WE GO.!!:

Bitcoin Halving Narration.

The upcoming Bitcoin supply halving in April 2024 is creating excitement. Historically, post-halving periods have seen significant price increases, and this looms up as the whales are eager to know what next the bears eager to make profits so the narrative is loud.

Institutional Interest (The Whales)

Large institutions are getting on board with Bitcoin

The U.S. Court of Appeals supported Grayscale Bitcoin Trust (GBTC) against the SEC, leading to a rush of spot Bitcoin ETF applications, including one by Grayscale itself and despite the fact that hints are all over about the best ETFs to be approved 90% of them will and shows the light.

Reduced Supply on Exchanges

The amount of Bitcoin on exchanges has been decreasing, indicating a strong long-term hold sentiment among traders. This is generally a significance that it will be bullish due to HODL and the whales are holding a bit longer and trades on the lower end hence pumping seen.

Short Liquidations

Recent bullish momentum has led to the liquidation of short positions, contributing to the price rise, the liquidation is on the rise hence volatility heating up as a sign of this leading to a huge surge on #BTC hence carrying with it other coins pump.

Market Sentiment

The Bitcoin Fear & Greed Index has moved from fearful to neutral, gaining 7 points in a week, showing improved market sentiment, and everyone is on the look out on the market cap making #bitcoin rise in volatility of above 3.8% price this is a joy and good sign.

NB: This is not a greenlight to investment to the beast coin please do your enough research and find best advice and articles this is just a post suggesting on the reasons or factors as to why #BTC is surging. Please research and make your best decisions.

Remember liquidation and volatility in the crypto world so invest what you can afford to lose!