Financial institutions are increasingly accumulating Bitcoin (BTC) as it exits a 20-day downtrend, signaling renewed interest in the cryptocurrency. This shift follows BTC's recent peak at $124,000 and Ethereum's (ETH) high of $4,900 last month. Currently, BTC and ETH are trading at $110,000 and $4,300, respectively.
The Ethereum supply on exchanges has reached a three-year low of 17.4 million ETH, indicating strong accumulation. However, major institutions such as Fidelity, Bitwise, and Grayscale have sold ETH in favor of BTC, suggesting a potential trend reversal. This is further evidenced by ETFs selling $135 million in ETH and purchasing $332 million in BTC, leading analysts to predict a possible ETH dip and BTC price surge.
Institutions Favor Bitcoin as It Breaks 20-Day Downtrend
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