U.Today - Crypto analyst has shared a popular market sentiment chart that shows that Bitcoin may soon find itself in a better stage than where it is floating currently.
The trader and analyst shared a screenshot of "The Wall Street Cheat Sheet"; it shows traders' emotions changing as the market moves through various stages. According to the tweet by Martinez, Bitcoin is about to enter the "hope" stage, where the recovery of an asset is possible.
“Hope” will be followed by “optimism”, leading to “belief”, “thrill” and then finally “euphoria”.
Bitcoin regains $30,000 after recent ETF filings
The leading digital currency the $30,000 level, rising nearly 4% within the last 24 hours, now changing hands at $30.018, the first time since April 19 this year.This was the reaction of the crypto market to the recent filing of BlackRock (NYSE:BLK) for a Bitcoin ETF. Following that, Invesco also revived its spot Bitcoin ETF filing with the SEC. Aside from these companies, several others are now seeking regulatory permission to launch Bitcoin exchange-traded funds as well — iShares, Bitwise, WisdomTree.
Besides, several major Wall Street companies have launched cryptocurrency exchange EDX — Fidelity, Charles Schwab (NYSE:SCHW) and Citadel Securities.
As the Bitcoin price surged, according to Glassnode, entities have locked in a massive . This is the second largest profit-taking over the past year.