CandleFocus Bitcoin could see another parabolic run following rising institutional interest
2024-11-19
Author: Content Editor
Bitcoin started the week with a 3% increase above $91,000, and it is expected to experience another bullish run. Many institutions have been increasing their Bitcoin holdings, signaling growing confidence in the digital asset. The launch of Bitcoin ETF options could also generate more attention and demand for Bitcoin. Recent inflows into Bitcoin ETFs, including Goldman Sachs' $710 million worth of Bitcoin holdings, suggest high institutional demand. Nasdaq is also preparing to list options for BlackRock's IBIT, further promoting adoption. Tether minting 1 billion USDT tokens on Ethereum reflects rising market momentum, and the transfer of half of these tokens to Binance indicates more interest in crypto. The increasing adoption of Bitcoin by institutional investors marks a shift in its perception from a controversial to a legitimate investment. The regulatory clarity and the anticipation of the 2024 elections are factors driving this trend.
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