Santiment has disclosed that Bitcoin’s recent price increase has come amidst short-selling activities ongoing on major crypto exchanges such as Binance and Bitmex since September 7. Based on the current market sentiment, the market intelligence platform suggests that the prevailing Fear, Uncertainty and Doubt (FUD) amongst investors in the crypto market could contribute to an even higher price surge for Bitcoin. This bullish sentiment is also shared by Michael van de Poppe, a popular crypto analyst, who has reported that Bitcoin is presently holding a price range between $58,000 and $56,000.
As the cryptocurrency retests the $57,000 level, this renewed momentum could ignite a positive price rally, potentially driving more gains for Bitcoin. Bitcoin Retests New Levels At $57,000 On Tuesday, September 10, Santiment, a market intelligence platform, disclosed a new positive change in Bitcoin’s price movements.
The platform revealed in an X (formerly Twitter) post that Bitcoin’s market value has experienced a notable uptick, skyrocketing to $57,600 this week. Related Reading: Crypto Analyst Predicts Dogecoin Will Rise 3,600% To $3.7, Here’s When Notably, Bitcoin’s price surged more than 4.8% on Monday, September 8, marking a significant milestone for the cryptocurrency, which has been recording persistent price declines over the past few months.
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