Bitcoin rallied close to $95,000 on Monday, before correcting under the $90,000 support.
Institutional arbitrage-driven flows add complexity to the narrative of who is truly long on Bitcoin.
BlackRock’s announcement to integrate Bitcoin ETF into its portfolio allocations and the US strategic crypto reserve catalyzed BTC gains earlier on Monday
(BTC) climbed to a high of $94,416 early on Monday before erasing newfound gains and dropping under $90,000 support. Market movers and recent bullish developments, such as the United States (US) strategic reserve announcement, the upcoming crypto summit at the White House and BlackRock’s announcement regarding portfolio allocations, failed to catalyze a sustainable rally in Bitcoin.
Institutional arbitrage-driven flows add complexity to the narrative of who is truly long on Bitcoin.
BlackRock’s announcement to integrate Bitcoin ETF into its portfolio allocations and the US strategic crypto reserve catalyzed BTC gains earlier on Monday
(BTC) climbed to a high of $94,416 early on Monday before erasing newfound gains and dropping under $90,000 support. Market movers and recent bullish developments, such as the United States (US) strategic reserve announcement, the upcoming crypto summit at the White House and BlackRock’s announcement regarding portfolio allocations, failed to catalyze a sustainable rally in Bitcoin.
Trade closed: stop reached
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