Analyst：Bitcoin in Consolidation Mode as Institutional Demand Remains Strong
Analysts at QCP Capital observed that Bitcoin is in consolidation mode as institutional demand remains strong. Bitcoin ( BTC ) market activity was active last week, with QCP market strategists noting that Bitcoin attempted to break above its previous high of $69,500 before stabilizing at a support level around $65,000. According to QCP analysts, Bitcoin's dominance rose to 59.75% with net inflows of $997.7 million, reflecting strong interest from institutional investors. However, Ether ( ETH ) fell 5.85% against BTC, suggesting that the market's focus remains on Bitcoin as it nears all-time highs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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