#BTC $BTC $ETH $BNB #sol Bitcoin price eyes comeback above $40,000, traders unsure of where BTC is headed next.

Bitcoin price made a comeback above $40,000 on Thursday, eyeing gains after the recent correction.

Bitcoin’s long term holders sent over $430 million in Bitcoin to exchanges as BTC dipped below $39,000.

Santiment experts believe that it is the ideal time to take a contrarian position in Bitcoin, as volatility prevails in cryptocurrencies.

Bitcoin price suffered a setback after hitting its two year high of $48,989 on January 11. The asset dropped to its 2024 low of $38,555 on Tuesday before beginning its recovery to the psychologically important level of $40,000.

The approval of Bitcoin Spot ETFs by the Securities and Exchange Commission (SEC), ushered a volatility in crypto prices, and divided traders on their sentiment on BTC.

Santiment experts recommend taking a contrarian stance to benefit from the shifting Bitcoin price trend.