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<ul class="news-points"> 
 <li>Bitcoin’s price corrected but market participants are moving their assets into self-custody.</li> 
 <li>BTC formed a golden cross, indicating that traders are bullish on the price action.</li> 
 <li>Maintaining the $27,000 psychological support could propel Bitcoin to $30,000.</li> 
</ul> 
Since <a href="https://coinedition.com/tag/bitcoin-btc-news/">Bitcoin (BTC)</a> rose above $28,000 for the first time since August, traders have been displaying confidence that a return to $30,000 may soon occur. However, the Bitcoin breakout only lasted a while as the cryptocurrency was back trading at $27,667 at press time. 
Despite the correction, market participants are not giving up hope on the possible BTC upward trajectory, and on-chain analytic platform Santiment’s monthly report highlighted this stance. Using the social volume metric, which is a measure of the commentary about an asset, Santiment noted that the market is extremely bullish on Bitcoin. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
 <img decoding="async" src="https://coinedition.com/wp-content/uploads/2023/10/Santiment-1.png" alt="" class="wp-image-340316" style="width: 100%;height:354px" width="790" height="354" srcset="https://coinedition.com/wp-content/uploads/2023/10/Santiment-1.png 1336w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-300x135.png 300w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-1024x459.png 1024w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-380x170.png 380w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-768x344.png 768w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-159x71.png 159w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-795x356.png 795w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-440x197.png 440w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-414x186.png 414w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-326x146.png 326w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-377x169.png 377w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-123x55.png 123w, https://coinedition.com/wp-content/uploads/2023/10/Santiment-1-129x58.png 129w" sizes="(max-width: 790px) 100vw, 790px">
 <figcaption class="wp-element-caption">
 Bitcoin and Altcoins Social Volume (Source: <a href="https://insights.santiment.net/read/santiment-monthly-report-bitcoin-ready-for-30k-return-or-are-hopeful-traders-about-to-get-burned-7382?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_september_monthly_report_b_100223/&amp;fpr=twitter" target="_blank" rel="nofollow">Santiment</a>)
 </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-bitcoin-is-not-alone">Bitcoin Is Not Alone</h2> 
The market was also bullish on altcoins including <a href="https://coinedition.com/link-arb-and-atom-are-the-top-altcoins-to-watch-out-for-analyst/">Chainlink (LINK)</a>, Aave (AAVE), and <a href="https://coinedition.com/grayscale-files-to-convert-5-billion-ethereum-trust-into-an-etf/">Ethereum (ETH)</a>. But there was one part about Bitcoin that made it seem like $30,000 was the next stop. 
According to Santiment, Bitcoin’s…
The post <a rel="nofollow" href="https://coinedition.com/bitcoin-btc-exchange-supply-hits-6-year-low-is-30k-close/">Bitcoin (BTC) Exchange Supply Hits 6-Year Low: Is $30K Close?</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Bitcoin (BTC) Exchange Supply Hits 6-Year Low: Is $30K Close?

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