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Bitcoin (BTC) has been steadily climbing in recent days and has now exceeded the $60k threshold.
BTC has risen by 4.3% in the last 24 hours and is currently trading at $60,258.11. The market capitalization of the leading asset has just crossed the $1.15 trillion mark, with a daily trading volume of $45 billion.
As per data from Santiment, Bitcoin investors are dominating discussions on crypto social media regarding the asset’s upward trend.
BTC’s social volume has increased by 131% since February 24, according to the data provider.
See Also: Glassnode: Short-term Bitcoin Holders Are Flooding Crypto Exchanges As BTC Soar
The majority of discussions, according to Santiment, feature terms such as “60k,” “ATH,” and “bullish.”
This indicates that some investors are anticipating new all-time highs for the premier cryptocurrency.
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Following the price increase from the $50,000 level, Bitcoin’s whale activity has also seen a significant rise.
According to Santiment, transactions involving at least $100,000 worth of BTC have surged from 8,267 to 16,885 unique transactions per day since February 24.
When there is a rapid increase in whale activity for an asset, high volatility is typically anticipated.
According to Santiment, Bitcoin’s Relative Strength Index (RSI) is currently around 80.
This indicator implies that the leading cryptocurrency is experiencing high volatility due to market greed.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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