Story Loading

‘Sustained institutional buying’ will hold Bitcoin above $50K: CrossTower

New research from CrossTower argues institutional buyers will hold BTC prices above $50,000. In a report shared with Cointelegraph, institutional crypto trading platform CrossTower asserts that large investors will not let Bitcoin (BTC) fall back below $50,000. According to the report, addresses holding over 1,000 BTC rose to record highs in January on the heels of sizable retracements — evidencing strong dip-buying from whales despite the relatively high price of Bitcoin. Combined with positive business developments in the industry, such as Mastercard’s decision to integrate certain cryptocurrencies and BNY Mellon’s newly launched custody services, CrossTower believes the outlook remains bullish for the digital asset markets.
Coin Telegraph - 23rd Feb 01:02