Recent analytics report explains Bitcoin (BTC) 'price jerk' as it rose and quickly fell back again
Santiment on-chain data vendor has shared the reason that likely inflated the Bitcoin price to the $26,500 level quickly on Sept. 12 from the $25,100 zone. However, the leading digital currency then promptly returned below the $26,000 mark.According to a recent X post by Santiment, the recent filing for permission to launch a, a digital assets management company holding $1.5 trillion and based in San Mateo, pushed the Bitcoin price up 4.
With a new runner in this race, there are now around 20 filings made for a Bitcoin spot ETF that are being considered by the. However, the momentum gained by Bitcoin all of a sudden died down pretty quickly. Santiment has called what happened on Tuesday, an"overreaction" of the crypto community as the ETF news went to the masses. Now, traders are taking profit from their BTC, which jumped slightly yesterday.
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