U.S. Investors Are Driving Bitcoin’s Price Surge as Institutional Demand Rises

CoinDesk
CoinDesk

29 Jun 2023 9:39 PM

BTC price gains and trading activity have mostly concentrated during U.S. market hours, according to K33 Research....

  • U.S. investors are increasingly investing in bitcoin (BTC) as institutional activity grows, driving the recent rally.
  • BTC's price gains and trading volume have been concentrated during U.S. market hours.
  • Bitcoin has surged 85% this year, outperforming most other cryptocurrencies.
  • Financial heavyweights like BlackRock, Fidelity, and Citadel getting involved with BTC have boosted investor optimism.
  • Smaller cryptocurrencies have struggled due to regulatory scrutiny.
  • BTC has experienced significant gains during U.S. market hours, outpacing Asian and European sessions.
  • BlackRock's filing for a spot BTC exchange-traded fund has increased institutional activity.
  • Bitcoin's recent surge has coincided with decoupling from U.S. equities.
  • Open interest on the CME futures market has been nearing its all-time high.
  • Digital asset funds recorded significant inflows, with bitcoin-focused funds leading the way.
  • This marks a turning point in crypto's institutional adoption.

The sentiment of the article is generally positive, highlighting the increasing institutional interest in bitcoin and its positive impact on the market.

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You May Ask

What has been driving the recent rally in bitcoin?How much has bitcoin surged this year?Which financial heavyweights have become more involved with bitcoin?Why have smaller cryptocurrencies struggled?What impact has BlackRock's filing for a spot BTC exchange-traded fund had on the market?

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