In an intriguing turn of events, Google has eliminated the display of Bitcoin’s [BTC] price and chart from the main search results page, impacting both desktop and mobile users. This alteration has triggered varied responses from the community.
A user on X voiced their dissatisfaction with this move, stating:
“They are deliberately attempting to stifle the growth of the crypto industry. They only suppress things that they fear.”
On closer examination, CryptoCrypto discovered that the price chart of BTC had not been deleted but rather relocated to the Finance section. This subtle adjustment has raised doubts regarding Google’s motives, prompting opposition to this modification.
Is the Beginning of “Uptober” on the Horizon?
Against this backdrop, Bitcoin’s performance indicated that the arrival of “Uptober” might be imminent. The leading cryptocurrency kicked off the week on a positive note, successfully surpassing the crucial $64,000 threshold and peaking at $64,500.
At the time of writing, the price experienced a minor dip, hovering at $63,928; however, the bullish sentiment remained strong. This price surge led to a 1.63% increase in market capitalization over the last 24 hours, according to CoinMarketCap.
Resilient HODLing Sentiment
Following the recent market fluctuations, the upward price movement infused fresh confidence in the market. Notably, this surge occurred as Bitcoin reserve levels on exchanges hit their lowest point since late 2018, as reported by CryptoQuant.
The continual downtrend of Bitcoin reserves on exchanges since early 2024 indicated a growing preference among investors to retain their assets rather than liquidate them, bolstering the enduring bullish sentiment towards the cryptocurrency.
Interpreting Derivatives Data
Further reinforcing this positive outlook, CryptoCrypto’s examination of derivatives data from Coinglass revealed a notable increase in short liquidations. This trend hints at a potential short squeeze, where the closure of short positions swiftly drives prices higher as traders rush to cover their losses.
If this momentum is sustained, this pattern could fuel further upward movement as more market participants enter long positions in anticipation of continued gains. Moreover, Bitcoin’s trading volume surged by more than 68% in the past 24 hours, signaling a rise in market activity.