b2b-daily
Home | FinTech | Fintech Blockchain

Is Bitcoin’s Recent Surge a Sign of Long-Term Bullish Momentum?

Avatar photo
by Daisy Brown
August 23, 2024
Image Credit: Pixabay
Is Bitcoin’s Recent Surge a Sign of Long-Term Bullish Momentum?

The landscape of cryptocurrency has been notably turbulent recently, marked by Bitcoin’s dramatic price surge. In the past 24 hours, Bitcoin saw an impressive leap of over 4 percent, reaching a daily high of approximately $61,361 on August 20. This surge followed a critical bounce from a support level near $58,000, signaling a reduction in market fear. This sentiment shift was captured by the Bitcoin fear and greed index, which rose from 28 percent to 30 percent. Notably, August and September are historically challenging months for the crypto sector, especially in the aftermath of Bitcoin halvings. The recent price movement raises questions about whether this could signify a long-term bullish trend or merely a short-lived spike.

Factors Contributing to Bitcoin’s Price Surge

One of the key elements driving Bitcoin’s recent price increase is its role as a deflationary asset amid poor global monetary policies that have resulted in rampant inflation. Bitcoin’s predetermined halvings every four years make it an attractive hedge against inflation, drawing interest from investors seeking to preserve value. Moreover, Bitcoin’s strong correlation with major global stock indexes like Japan’s Nikkei 225, which led other indexes in a bullish recovery, has also influenced this positive market sentiment for cryptocurrencies. As these traditional financial markets recover, Bitcoin’s performance tends to mirror the optimistic trends, reinforcing its place in diversified investment portfolios.

Adding to the optimism surrounding Bitcoin, there has been a noticeable surge in institutional demand. Data from blockchain analytics firm Santiment reveals that Bitcoin whales—those holding between 100 and 1,000 BTC—have accumulated an additional 94,700 BTC over the past six weeks, bringing their total holdings to over 3.9 million BTC. This growing interest extends to significant transactions like Metaplanet Inc.’s acquisition of 57.273 Bitcoins and another substantial purchase of 347 Bitcoins by a prominent whale. Additionally, U.S. spot Bitcoin ETFs have witnessed a net cash inflow of $125 million, primarily led by Fidelity’s FBTC, further validating the rising institutional backing.

Blockchain TechnologyCryptoInformation Security

Explore more

Trend Analysis: Maritime Data Quality and Digitalization
March 31, 2026

The global shipping industry is currently grappling with a paradox where massive investments in high-end software often result in negligible improvements to the bottom line because the underlying data is essentially unreadable. For years, the narrative around maritime progress has been dominated by the allure of autonomous hulls and hyper-intelligent algorithms, yet the reality on the bridge and in the

Trend Analysis: AI Agents in ERP Workflows
March 31, 2026

The fundamental nature of enterprise resource planning is undergoing a radical transformation as the age of the passive data repository gives way to a dynamic environment where autonomous agents manage the heaviest administrative burdens. Businesses are no longer content with software that merely records what has happened; they now demand systems that anticipate needs and execute complex tasks with minimal

Why Is Finance Moving Business Central Reporting to Excel?
March 31, 2026

Finance leaders today are discovering that the rigid architecture of an enterprise resource planning system often acts more as a cage for their data than a springboard for strategic insight. While Microsoft Dynamics 365 Business Central serves as a formidable engine for transaction processing, many organizations are intentionally migrating their primary reporting workflows toward Microsoft Excel. This transition represents a

Dynamics GP to Business Central Migration – Review
March 31, 2026

Maintaining an aging on-premise ERP system in 2026 feels increasingly like trying to navigate a modern high-speed railway using a vintage steam engine’s schematics. For decades, Microsoft Dynamics GP, formerly known as Great Plains, served as the bedrock for mid-market American enterprises, providing a sturdy, if rigid, framework for accounting and inventory management. However, as the industry moves toward 2029—the

Why Use Statistical Accounts in Dynamics 365 Business Central?
March 31, 2026

Managing a modern enterprise requires more than just tracking the movement of dollars and cents across various general ledger accounts during a fiscal period. Financial clarity often depends on non-monetary metrics like employee headcount, physical floor space, or the total volume of customer interactions to provide context for the raw numbers. These metrics, known as statistical accounts, allow controllers to