Recent data reveals that Bitcoin's price is currently facing a pivotal resistance level at $60,000. The ETF inflows reflect persistent institutional demand, which may enhance future price gains.
Despite Bitcoin's recent declines, the $13 million in ETF inflows indicates sustained interest from institutional investors. This commitment could bolster Bitcoin's price trajectory as market conditions evolve.
The U.S. government's transfer to Coinbase Prime was likely a conversion rather than a sale, highlighting confidence in institutional demand even during market fluctuations.
While a potential Federal Reserve rate cut may present benefits for Bitcoin traders, it also raises the specter of economic downturn, mirroring the volatile movements experienced in 2019.
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