In a weekend surprise to the crypto community, the Bitcoin (BTC) price has smashed past the much-awaited $40,000 milestone with strong trading volumes. At press time, BTC is trading 3.46% up at a price of $40,726 with a market cap of $796 billion and trading volumes reaching closer to $18.9 billion.
FOMO Buying Into Bitcoin
This is the first time that the Bitcoin price has rallied past the $40,000 level since May 2022, or in 18 months. The cryptocurrency market is now closely watching for the impact of both fear of missing out (FOMO) and fear, uncertainty, and doubt (FUD) regarding the anticipated confirmation dates for the ongoing exchange-traded fund (ETF). Analysts speculate that the Bitcoin ETF developments will influence the trajectory toward $50,000.
Courtesy: Santiment
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