On September 30, 2024, Bitcoin maintained its position above $65,000, signaling strong buyer confidence despite recent price stagnation. The U.S. spot Bitcoin exchange-traded funds (ETFs) experienced inflows of $1.1 billion last week, marking the largest weekly influx since mid-July. This shift in sentiment pushed the Crypto Fear & Greed Index into the 'greed' zone at 63.
The rise in retail interest is evident, with Coinbase's app ranking as the 385th most downloaded on the Apple App Store, indicating renewed market activity. Analysts suggest that if Bitcoin's price can hold above the 20-day exponential moving average (EMA) of $62,650, a rally to $70,000 is plausible, although sellers are likely to defend the $70,000 to $73,777 range vigorously.
In other altcoin analyses, XRP has formed an ascending triangle, with potential to rally towards $0.74 if it closes above $0.64. Bittensor remains above $530 support, while Sei has risen above $0.43, indicating bullish sentiment across the board.
The broader implications of these developments suggest a potential resurgence in the cryptocurrency market, with increased retail participation and institutional investment driving price movements.