Bitcoin Stabilizes as Institutional Demand Grows

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Coin-Turk 10 months ago 110

Bitcoin (BTC ($107,768.00)) $95,427 recently surpassed the $97,000 mark but quickly returned to the $95,000 threshold, finding stability. This drop coincided with the U.S. government transferring 10,000 BTC linked to Silk Road, approximately valued at $963 million. Following this transfer, the options market showed a predominantly bearish volatility curve, indicating a shift in short-term expectations within the cryptocurrency market.

Institutional Demand Strengthens

The adoption of Bitcoin as a reserve asset is becoming increasingly common. Spot Bitcoin ETFs received a new investment of $350 million just yesterday. Additionally, leading Bitcoin miner MARA Holdings announced that it purchased $618 million worth of BTC over the last two months, following the lead of major institutional Bitcoin investor MicroStrategy.



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