Market Divided! The Movement That Occurs In This Market Is The Main Attention

<p>&nbsp;Bitcoin's prolonged period of flat price movement raises hopes that there will be a change in the market with data and charts showing potential fluctuations. BTC's latest rally around $30,000 coincides with a reduction in the 2023 recovery that now stands at 80% since the start of the year, down from 90% in mid-July, Bloomberg reported.</p><p><br /></p><p>These periods of flatness may soon be replaced by dynamic shifts that may be triggered by sentiment. Notably, applications for spot-based Bitcoin exchange-traded funds (ETFs) by big players like BlackRock Inc. has attracted the attention of the market. If approved, the ETF could significantly increase demand for Bitcoin.</p><p><br /></p><p>Upcoming decisions on ETF applications, such as ARK Investment Management LLC's application, have the potential to impact current market conditions. In the earnings report, Galaxy Digital CEO Mike Novogratz cited inside sources who hinted that the deal for BlackRock and Invesco's spot Bitcoin ETF was a matter of time. Spot Bitcoin ETF approvals have risen since BlackRock's mid-June filing.</p><p><br /></p><p><br /></p><p>Bitcoin is trading around $29,898 at the time of writing. The chart indicates the potential for increased volatility, with a bullish sentiment signal. Technical indicators point to a potential rally towards $34,000, according to Tony Sycamore, analyst at IG Australia Pty.</p><p><br /></p><p>Expectations of some Bitcoin price analysts may maintain an optimistic view above $30,000 this week, despite the lack of sentiment. The Moving Average Convergence Divergence (MACD) indicator may be of interest to investors looking for a buy indication.</p><p><br /></p><p>On the other hand, the developing relationship between Bitcoin and the Nasdaq 100 Index has also attracted attention. The short-term positive correlation indicates that Bitcoin's movements may be increasingly in line with tech stocks, potentially amplifying the reaction to equity market shifts.</p>