Despite the sluggish Bitcoin price hovering around $29K, the market anticipates a push towards $30K as new address creation increases and DeFi maintains relevance.
Bitcoin's price has stagnated at approximately $29,000, prompting speculation about the factors needed to propel it beyond the $30,000 milestone. Despite these circumstances, the wider crypto world and DeFi sector continue to pique interest.
CoinDesk Indices reveal that both Bitcoin and Ethereum prices have stayed relatively stable over the weekend, while Gold experienced a notable uptick. The crypto market is expected to remain subdued until a Bitcoin spot exchange-traded fund (ETF) is approved, which could generate considerable momentum.
In the meantime, positive developments such as new address creation and continuing interest in DeFi may counterbalance the pressure from ongoing volatility and help bolster cryptocurrency prices.
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