Bitcoin Holds Above $30K as Analysts See Signs of Renewed Bullish Sentiment

Bitcoin price held above $30,000, still up 2.5% on the day, after making gains following the weekly close. Popular analyst says BTC must break $31K to avoid a "bearish fractal."

On-chain data shows Bitcoin's True Market Price now below spot price, indicating bear market dues may have been paid, according to Glassnode.

Analyst points to potential Bitcoin spot ETF approval in US as driver of renewed bullish sentiment. Inflows to OTC desks have spiked.

Grayscale Bitcoin Trust continues to reduce its discount to spot price, now at smallest negative margin since Dec 2021.

While not a recommendation, analyst says possible US spot ETF approval has increased bullish inflows in crypto market.