Institutions increasingly accumulate Bitcoin (BTC) as exchange balance dips

Institutions increasingly accumulate Bitcoin (BTC) as exchange balance dips
фото показано с : invezz.com

2023-7-8 17:22

Crypto expert Miles Deutscher has commented on the current substantial surges in Bitcoin holdings. He believes the latest BlackRock spot BTC ETF filing has catalyzed optimism around the leading cryptocurrency by market cap.

Since BlackRock filed for a spot #Bitcoin ETF, $BTC held by funds has seen a strong uptick.

This is only the beginning of widespread institutional BTC accumulation. pic.twitter.com/VhDB0kBPhO

— Miles Deutscher (@milesdeutscher) July 7, 2023

While the community remains skeptical about the effect of exchange-trade fund authorization on the cryptocurrency market, Bitcoin seems to exhibit a promising future. Positive signals, such as the latest surged inflows and optimistic sentiment, have pushed Bitcoin well above $30K.

Institutions increasingly accumulate Bitcoin

Bitcoin sees strengthening institutional demand following BlackRock-induced optimism. While the companies re-file their Bitcoin ETF application with the SEC, attracting retail and institutional interest.

Miles Deutscher confirmed that institutions are in the accumulation race.

“This is only the beginning of widespread institutional BTC accumulation,” he stated.

Moreover, renowned influencers continue to support the top crypto. As invezz.com reported, BlackRock CEO Larry Fink issued pro-crypto remarks on live television, calling Bitcoin an international asset.

Bitcoin exchange balance hit its lowest levels since 2018 Source – Glassnode

The latest Glassnode data shows Bitcoin balance on exchange addresses slumped to lows never seen since 14 March 2018. The figure dipped to 2.26 million, reflecting substantial shifts in crypto dynamics.

Bitcoin price

Cryptocurrency prices flashed stability on Friday, presenting minor changes within the past day. Bitcoin traded at $30,321.79 at press time, surging 0.57% in the last 24 hours. Meanwhile, analysts believe the leading digital coin will see a bullish future.

@OwensAssetFund trusts Bitcoin can soar 20% by 8 September 2023 to explore the $36,238 value area. It remains interesting to see the future of the crypto space and BTC.

Our real-time $BTC.X to USD price update shows the current Bitcoin price as $30,550.00 USD. Our most recent Bitcoin price forecast indicates that its value will increase by 20% and reach $36,237.5 by September 08, 2023. $BITO $RIOT
🆙📈🔺🏦💰🤑#bitcoin #cryptocurrency #crypto… pic.twitter.com/Rmhy3aukZi

— OwensAssetFund (@OwensAssetFund) July 7, 2023

The post Institutions increasingly accumulate Bitcoin (BTC) as exchange balance dips appeared first on Invezz.

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Bitcoin (BTC) на Currencies.ru

$ 91202.88 (-0.23%)
Объем 24H $57.904b
Изменеия 24h: -1.78 %, 7d: -0.39 %
Cегодня L: $91084.05 - H: $92664.54
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btc bitcoin etf spot blackrock latest believes

Источник: invezz.com

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