• Sat. Jun 10th, 2023

Latest Bitcoin & Cryptocurrency News

Bitcoin Awaits Institutional Demand for Next Leg Higher, Oanda Says

Apr 6, 2021
Bitcoin Awaits Institutional Demand for Next Leg Higher, Oanda Says

Bitcoin (BTC) is drifted larger, altering arms round $59,000, as patrons awaited the subsequent wave of institutional demand, in response to Edward Moya, senior market analyst at Oanda, a international trade dealer.

A quick worth pop earlier Monday got here after MicroStrategy, the Nasdaq-listed enterprise intelligence agency, purchased $15 million of BTC at a mean worth of $59,339 per coin, including to its already substantial hoard.

The most important cryptocurrency by market cap has risen by about 36% over the previous month. Oanda’s Moya informed CoinDesk in an interview that the bullish sentiment stemmed a minimum of partly fueled by pleasure over the much-anticipated public inventory itemizing of the cryptocurrency trade Coinbase.

Now, the main target shifts again to institutional gamers with deep pockets, which may help the subsequent leg larger above $60,000 in BTC.


Some altcoins have been outperforming BTC over the previous month. Ether (ETH) reached an all-time excessive and is up about 60% since March. XRP is up about 90% over the identical time interval versus BTC’s acquire of about 36%.

Source link

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *