Over the past month, the price of Bitcoin (BTC) has seen significant fluctuations, dropping a total of 3.09%. Despite the temporary gains, Bitcoin failed to break out of the $65,000 price range. However, institutional investors seized the opportunity and strengthened their position in the market. According to CryptoQuant, these investors bought 57,000 Bitcoins worth $3.65 billion in the last 30 days, the most since 2021. This large purchase could be a positive sign of confidence in future profitability. Recently, the price of Bitcoin increased by 4.84% to $64,879 after the Federal Reserve Chairman announced that he would cut interest rates. As interest rates fall, demand for Bitcoin and other digital currencies is expected to increase, which could generate significant profits for institutional investors.
Post a Comment
0Comments