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Coin Edition 2024-11-29 13:20:00

BTC Near $100K: Institutions Buy In, Yet Long-Term Holders Cash Out

BTC Near $100K: Institutions Buy In, Yet Long-Term Holders Cash Out

Bitcoin inches closer to $100,000 amid strong institutional demand. Experts warn that long-term holders selling into the rally could halt Bitcoin’s rise. The market faces risks of correction due to increased leverage and speculative trading. Bitcoin has recently surged to near the $100,000 mark, sparking excitement among investors eager to see it break this key psychological barrier. After briefly touching a high of $99,600 last week, Bitcoin currently trades just under $96,150. While the optimism surrounding Bitcoin’s price movement is palpable, some strategists remain cautious about whether the momentum can be sustained. Institutional Demand Could Push Bitcoin Higher Several experts remain optimistic, pointing to continued strong demand from institutional investors. Fred Thiel, CEO of Marathon Digital Holdings, believes that large-scale buyers are still aggressively purchasing Bitcoin. “I think we’re going to see institutions continue to buy up Bitcoin,” Thiel said in an interview with CNBC. He noted that Marathon recently raised a $1 billion zero-coupon bond, similar to the $3 billion bond issued by MicroStrategy, partly used to fund a $… The post BTC Near $100K: Institutions Buy In, Yet Long-Term Holders Cash Out appeared first on Coin Edition .

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