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After nearly two weeks of rising prices, Bitcoin recently experienced a decline, dropping below $64,000. The selling pressure created by Mt. Gox creditors in the market had an impact on the price. Additionally, data from the US and changes in presidential candidates were also thought to influence the decline. Recently, another event occurred, but this time the price did not take a significant negative hit.
X Makes a Historic Move
The positive approach of X (formerly known as Twitter) towards cryptocurrencies, especially after the Elon Musk era, was well known. Considering Elon Musk is a known crypto supporter, this event may not seem very surprising.
In the past, the inclusion of cryptocurrencies in payment systems discussions, making DOGE the logo of X, and many similar events were thought to reflect the support given to cryptocurrencies. One of these was the Bitcoin hashtag on X.
After a critical decision made by X, users shared that the Bitcoin hashtag was removed from X about an hour ago, leading to speculation about whether X’s approach to Bitcoin and cryptocurrencies would change.
With Bitcoin rising again to over $77,000 during the night, the future price movement became a topic of curiosity following this event.
What Is Bitcoin’s Current Price?
Bitcoin’s price continues to move in a volatile manner after reaching its ATH in March. Although the ATH is seen only $6,500 away, it is believed that BTC still has a long way to go. After a 4% rise in the last 24 hours, BTC settled again at $66,900.
It was observed that the decision made by X did not have a significant impact on the price. Following the price movements, BTC’s 7-day price change was positive at 4.33%, while the 30-day change rose to 8.71%.
After the price movement in Bitcoin, the market cap also saw a similar increase, rising again above the critical $1.3 trillion level. On the other hand, the trading volume stood at $35.38 billion after a 4.70% increase.
