Bernstein’s report is the latest in a series of bullish forecasts from institutional market researchers ahead of the November US presential election.
Bitcoin ETF news
Repeat bearish engulfing candles near range highs and Bitcoin’s inability to flip $70,000 to support are possible signs of an incoming correction
Despite rising interest from both institutional and retail investors, the Bitcoin price has been unable to rise above the $70,000 psychological mark since July 29.
Bitcoin institutional investors are pausing for thought while BTC price struggles to overcome resistance.
BlackRock’s Bitcoin fund carried over to the rest of the United States spot Bitcoin ETFs, which recorded a net inflow of $294 million on Oct. 21.
Despite the record European inflows, Bitcoin price has been unable to recover above the $70,000 psychological level since July.
Spot Bitcoin ETF inflows can have a delayed effect on the BTC price, which takes a couple of days to materialize, according to market analysts.
Bitcoin’s bullish weekend price action could be a sneak peek of what’s to come this week. Will ETH, SOL, DOGE, and SHIB follow?
Bitcoin ETFs see record daily inflows as institutional investors drive adoption and BTC’s ongoing price surge.
To confirm a potential breakout from its current crab walk, Bitcoin needs to close the week above $68,700, according to market analysts.