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This drop might suggest a sentiment of boredom or disinterest among traders amid the ongoing market uncertainty, as evidenced by falling prices.As the market continues to navigate through periods of dull action, Saylor's vision for Bitcoin represents a rallying cry with interest and trading activity expected to return.
Bitcoin dominated the news at the start of 2024 when the first U.S. spot ETFs for the largest digital asset went live. ETFs from BlackRock and Fidelity garnered substantial inflows, pushing Bitcoin to a record high of $73,798 in March, although demand and pricing have since cooled.price remains locked in a wide range. Following last Monday's plunge to lows of $58,414, bulls have worked tirelessly to keep Bitcoin above $60,000.
As reported, over 20,200 BTC, worth $1.23 billion, were sent to accumulation addresses in a single day, suggestive of dip buying.However, the range-bound action of the past few weeks along with the failure to break out to a new high above $73,777 has resulted in a drop in bullish sentiments across key social media platforms in recent weeks, according to on-chain data by Santiment. The decline in trader enthusiasm could indicate a market bottom, Santiment added.
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