CME reported a persistent rise in institutional interest in Bitcoin futures during the quarter, as investors actively sought regulated platforms and products to hedge against escalating market volatility and effectively manage risk and exposure.
Market analysts are on the edge of their seats, awaiting the Fed's next strategic move or eagerly seeking a crystal-clear understanding of the ETF's future direction.
'Inflation and rate concerns could be what [has been] keeping crypto prices depressed,' said Noelle Acheson
Crypto traders are eagerly acquiring DOGE with the optimistic expectation that the token will assume a more significant role on Twitter, following the platform's recent rebranding as the all-encompassing 'everything app' X on Monday.
The balance retained in addresses holding coins for a minimum of 155 days has surged by $1.87 billion this month.
With a dearth of positive news, a seasoned analyst highlighted the potential for Bitcoin to reach the $27,000 mark in the near term.
Data indicates that one token experienced an astonishing 1,200% surge despite its associated project being terminated in May.
The token launch coincides with the protocol release and the previous rollout of the wallet.
In a post-FTX world, the CEO of the Dubai-based exchange observes a fierce competition among jurisdictions vying for dominance in the crypto business. PLUS: Bitcoin maintains its position around $30,000 amidst investor prudence.
Next week's U.S. central bank interest rate decision and the expiration of bitcoin options are not expected to cause significant market movements, as they have been stagnant for weeks.