The rise in Bitcoin (BTC) price after the last halving event created great excitement in the cryptocurrency market. The halving event has been an effect that has caused significant increases in the price of BTC throughout history. In the last 24 hours, the BTC price rose to $67,233, further increasing investors’ optimism. However, although the price has retreated somewhat, the leading cryptocurrency aims to reclaim the $70,000 level and rise towards the all-time high (ATH).
Selling pressure from Bitcoin miners is often a major factor in price movements. However, recently Bitcoin miners have not been selling despite the increase in mining difficulty. This may reflect Bitcoin’s strong fundamentals in the market and the growing confidence of long-term investors.
Market data analysis platform According to Santiment, short-term Bitcoin investors have begun to redirect their profits into more speculative altcoins, led by meme coins. According to Santiment, in the near term, Bitcoin’s rise will move in tandem with altcoins, thus ensuring a reasonable return.
Popcat (POPCAT)
Santiment stated that in the meme coin category, POPCAT, a Solana-based project, is the most popular project attracting great interest among speculative investors. There has been an increase of approximately 38% in the price of POPCAT in the last 24 hours and it is currently $0.389 It is traded around .
Amplifier (AMP)
Likewise, in the DeFi-based altcoin category, Santiment detected a sharp increase in the trading volume of AMP (AMP). This appears to present an attractive opportunity for speculative investors. According to current data, AMP saw a 61% increase in daily trading volume to nearly $26 million in the early Asian session on Tuesday.
This small-cap altcoin is up over 14 percent in the last seven days. 0.007837 It is traded around USD. Santiment made the following statement for AMP:
“Although its market cap performance has not yet stood out from other altcoins, there has been a huge increase in trading volume. With discussions about scale and the project’s potential to make history in finance, there seems to be an increasing likelihood of investors exhibiting excitement about the project’s potential growth and success. “Overall, the sentiment of the crowd is neutral, which suggests that BTC is a good candidate for market cap growth if it can sustain its own steady rise.”
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