Bitcoin's Price Could Reach $74,000 Amid Institutional Demand and Soft U.S. Inflation Figures
Bitcoin's price could surge to $74,000 in the near future due to increased institutional demand and a bullish sentiment for riskier assets following softer-than-expected U.S. inflation figures. Large asset managers such as Millennium and Schonfeld have invested in bitcoin spot ETFs, indicating growing institutional interest. Short-term selling pressure on bitcoin appears to be easing off, according to on-chain and exchange data. This comes after weeks of low volatility in the market, with bitcoin trading within a range of $60,000 to $70,000 since March.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dragonfly Partner’s heartfelt essay: Reject Cynicism, Embrace Exponential Thinking
The industry's focus is shifting from Silicon Valley to Wall Street, which is a foolish trap.
Vitalik's 256 ETH Bold Gamble: Privacy Communication Needs More Radical Solutions
He made it clear that neither of these two applications is perfect, and there is still a long way to go to achieve true user experience and security.
Polymarket: The Rise of Cryptocurrency Prediction Markets
Trending news
MoreCrypto prices
More
