The post Why is Bitcoin (BTC)Price Up Today? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price edged 4 percent higher in the past 24 hours to trade around $44,500 on Thursday during the early Asian market. The flagship coin remains the most desired digital asset due to its notable scarcity and deep liquidity worldwide.
Furthermore, Bitcoin’s trading volume spiked by more than 40 percent in the past 24 hours to about $24 billion at the time of this report. As a result, Bitcoin’s market cap is shy of $130 billion from reclaiming $1 trillion, achieved during the 2021 bull run.
Why Bitcoin Price Gained Today?
Accelerated Whale Buying Pressure
#Bitcoin is back above $44.5K for the first time since the '#ETF hangover’ retrace began back on Jan. 12. This bounce is partially attributed to the rise in 1K+ $BTC wallet holdings. Their collective holdings are at their highest level in 14+ months. https://t.co/mxCoXJbHcW pic.twitter.com/FjZdmPeMvj
— Santiment (@santimentfeed) Fe
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