Bitcoin hovers at historical highs with institutional demand supporting price strength

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On July 21, Presto Research analyst Min Jung stated: "Supported by ongoing institutional demand (especially from crypto asset fund management companies), Bitcoin continues to hover near historical highs. Given the nature of these buyers, they are unlikely to become aggressive sellers in the short term. That said, we are beginning to see that as prices break above previous highs, old wallets are starting to take profits, which could bring some short-term fluctuations."

Jung stated that the price of Ethereum is also benefiting from the push of institutional investors, with more and more listed companies beginning to incorporate ETH into their treasury. The recent net inflow of ETH spot ETFs has reached a historical high, while the inflow of BTC ETFs during the same period also exceeded that of BTC ETFs. "The key question now is whether this momentum can continue after such a strong performance last week. However, the market is showing early signs of an altcoin season, including a decline in Bitcoin's dominance while BTC prices stabilize and ETH rises."

BTC-0.53%
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MetaverseHermitvip
· 17h ago
Institutional players are really something.
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VibesOverChartsvip
· 07-21 04:06
Get liquidated, let it be. What charts are we looking at?
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AirdropHuntervip
· 07-21 04:00
play people for suckers and run, don't be greedy
View OriginalReply0
OneBlockAtATimevip
· 07-21 03:47
The bull run is back, let's get started!
View OriginalReply0
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