ย ย
Bitcoin is making waves in the crypto community after its recent price performance, which the market collectively considers impressive. The leading cryptocurrency crossed $28,000 at a crucial market moment, after failing to meet bullish expectations for the first half of 2023.
As a result, enthusiasm for Bitcoin across the cryptocurrency market is said to have increased. This is according to data from crypto market intelligence platform Santiment. On Twitter, Santiment shared that, according to social trends, Bitcoin is emerging as the fourth most talked about asset in the cryptocurrency market.
Since Bitcoin first broke the $25,000 price level until the present, the leading asset has seen a significant increase in the number of mentions within the crypto market. In March, enthusiasm for Bitcoin was significantly lower after it crashed through $25,000. With Bitcoin adding over $5,000 to that price value, there has been an 82% increase in mentions of Bitcoin on social media.
Bitcoin exceeds $28,000
The coming weeks present an even greater opportunity for bulls to outperform, considering how bullish current investor sentiments are. The rise in prices, as many have noted, could be attributed to investors anticipating an imminent change in the US Federal Reserve's monetary policies.
Supporting this sentiment was Tim Frost, CEO of crypto performance platform Yield App, who also highlighted the importance of Bitcoin's recent price surge.
โThe recent rise in bitcoin price is like a breath of fresh air after a long, cold crypto winter. This renewed optimism could be attributed to an anticipated change in the US Federal Reserve's monetary policy, which is expected to create a more stable and hopefully predictable environment.โ Tim Frost said.
Investors are currently collectively awaiting information on US inflation. It will examine possible actions that the Federal Reserve is expected to take following the banking crisis recently witnessed in March. The collapse of many major US banks led the market to anticipate that the Central Bank would end the continued increase in interest rates.
