The crypto market remained relatively stable, with Bitcoin hovering near $58,500. There was a notable decline under $57,000 that lacked a clear trigger, despite gains in traditional equity indexes.
South Korea's National Pension Service made a significant indirect investment in Bitcoin by purchasing nearly $34 million in MicroStrategy shares; this illustrates institutional interest in cryptocurrencies.
The NYSE has halted plans to list bitcoin ETF options, reflecting ongoing regulatory scrutiny and uncertainty surrounding cryptocurrency investments—highlighting the challenges facing cryptocurrency markets.
Benchmark’s raised price target on MicroStrategy from $1,875 to $2,150 underscores the expectations for corporate entities holding significant Bitcoin reserves, emphasizing market sentiment toward cryptocurrency investments.
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