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 <p>Also Read: <strong>XRP Attorney John Deaton: What To Expect From Ripple Proper Party</strong></p>  
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 <h2 id="bullish-environment-in-crypto-ecosystem">Bullish Environment In Crypto Ecosystem</h2> 
 <p>The crypto market ecosystem had in recent times witnessed some of the pathbreaking developments like the XRP lawsuit Summary Judgment, the filing of several spot Bitcoin ETF applications and the latest victory for Grayscale in the lawsuit over conversion of its Bitcoin Trust into a spot ETF product. Hence, the trader sentiment is overall bullish although the BTC price is more or less following a sideways path. In MicroStrategy, the crypto ecosystem has a huge institutional investor to look up to when it comes to having confidence in the asset.</p> 
 <h2 id="small-to-medium-btc-holders-display-confidence">Small To Medium BTC Holders Display Confidence</h2> 
 <p>According to Glassnode data, <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> wallet addresses with more than 10 $BTC are increasingly showing resilience in its growth potential. Data showed that the number of addresses holding over 10 <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> is currently at a 3 year high of 157,352, with a steady track record of growth since January 2023.</p> 
 <p><img decoding="async" class="aligncenter size-full wp-image-158334" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%202400%201200'%3E%3C/svg%3E" alt="BTC price Bitcoin" width="2400" height="1200" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 2400w, https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 300w, https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 1224w, https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 768w, https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 1536w, https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 2048w, https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp 150w" data-lazy-sizes="(max-width: 2400px) 100vw, 2400px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/03/512ced819e0d68c2e49983f8a70d0721.webp"> 
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 <p>Meanwhile, further developments in the spot <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF space with the US SEC could likely have a big impact in October 2023, when the next deadline for the Blackrock filing is scheduled. With the recent delay, the U.S. Securities and Exchange Commission (SEC) effectively postponed the next decision deadline for the likes of BlackRock, Invesco, Bitwise and WisdomTree to mid-October 2023.</p> 
 <p>On the other side, experts forecast a surge in <a rel="noopener noreferrer nofollow" title="BTC price" href="https://thebittimes.com/tag/btc-price.html">BTC price</a> in the lead up to the <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Halving event, which is tentatively scheduled for April or May 2024, at block 840,000.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-at-3-year-high-in-key-metric-btc-price-to-40k-next-tbt61338.html">https://thebittimes.com/bitcoin-at-3-year-high-in-key-metric-btc-price-to-40k-next-tbt61338.html</a></p>

Bitcoin At 3 Year High In Key Metric; BTC Price To $40K Next?

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