Bitcoin is attempting to stabilize above $90,000 after a volatile week, with analysts eyeing $93,200 as a key resistance level. ETF flows show continued preference for Bitcoin, while Ether sees moderate outflows, suggesting institutional confidence in BTC amid macro uncertainty.
What to Know:
- Bitcoin is attempting to stabilize above $90,000 after a volatile week, with analysts eyeing $93,200 as a key resistance level.
- ETF flows show continued preference for Bitcoin, while Ether sees moderate outflows, suggesting institutional confidence in BTC amid macro uncertainty.
- Recent moves by Vanguard and Bank of America signal growing institutional acceptance of crypto assets, potentially driving further market growth.
Bitcoin’s price movements are closely watched as the crypto market navigates a period of elevated volatility. After briefly surpassing $93,000, Bitcoin is now testing support levels. Traders are assessing whether BTC can maintain its position above the $90,000 mark.
The performance of altcoins like Cardano and Ether reflects broader market dynamics. Cardano’s on-chain activity proposal and Ether’s Fusaka upgrade are designed to enhance network capabilities. These upgrades aim to support growing transaction volumes.
ETF flows reveal a distinct pattern, with Bitcoin ETFs attracting inflows while Ether ETFs experience outflows. This trend suggests that institutional investors are currently more inclined to increase their Bitcoin holdings. This preference is notable given ongoing macro uncertainties.
Institutional adoption continues to gain momentum, with Vanguard now offering crypto ETF trading to its clients. Bank of America has also indicated to its institutional clients that allocating a portion of portfolios to digital assets may be beneficial. These developments signal a growing acceptance of cryptocurrencies as legitimate investment options.
Despite short-term volatility, the broader crypto market capitalization has seen a rise, indicating early attempts at establishing a new trend. While caution remains below the $3.38 trillion threshold, the market is showing signs of resilience and potential for further growth. This positive momentum is supported by increasing institutional interest and ongoing developments within various blockchain networks.
Related: Cardano Bull Setup Points to December Rally
Source: Original article
Quick Summary
Bitcoin is attempting to stabilize above $90,000 after a volatile week, with analysts eyeing $93,200 as a key resistance level. ETF flows show continued preference for Bitcoin, while Ether sees moderate outflows, suggesting institutional confidence in BTC amid macro uncertainty.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
