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Bitcoin (BTC) has reached price levels not observed since mid-2022, with the leading cryptocurrency by market capitalization touching $30,000 and establishing a new peak for 2023.
As per CoinGecko data, Bitcoin has slightly exceeded $30,000, currently sitting at nearly $30,200 at the time of this report, a price it last achieved on June 10, 2022.
Over the past 30 days, BTC has experienced gains of nearly 46%, climbing to its highest point in ten months on April 11.
A 24-hour Bitcoin price chart illustrating its 6.5% increase to surpass $30,000. Source: CoinGecko
Some analysts had anticipated that it would reclaim the $30,000 mark as traders await the United States Consumer Price Index (CPI) report on April 12, which will provide insights into the Federal Reserve’s efforts to combat inflation.
Since the previous week, the Crypto Fear and Greed Index has consistently remained in the “Greed” zone, with the latest update on April 11 indicating a score of 68 out of a maximum of 100.
Crypto market sentiment was reflecting “Greed” on April 11, according to the index. Source: alternative.me
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The Crypto Fear and Greed Index seeks to numerically convey the current “emotions and sentiments” regarding Bitcoin and the cryptocurrency market, with the highest possible score being 100.
The index also recorded a score of 68 on March 21, marking its peak since it surpassed a score of 66 on Nov. 16, 2021, shortly after Bitcoin’s all-time high of over $69,000 was noted on Nov. 10, 2021.
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Michael Saylor, the founder and executive chairman of business intelligence company MicroStrategy, has been a prominent supporter of BTC and has been advocating for corporations to embrace cryptocurrency as a strategic asset.
MicroStrategy has accumulated billions in Bitcoin on its balance sheet, currently holding 140,000 BTC as of April 5, with a total acquisition cost of $4.17 billion.
With an average purchase price of approximately $29,803 per coin, the recent price surge indicates that MicroStrategy has realized a profit on its investment.
MicroStrategy has consistently expanded its BTC holdings since its initial acquisition in August 2020, despite the prevailing crypto bear market.
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