TechFlow news, Cycle Capital noted that Bitcoin recently touched a low of $49,000 last week, approaching the production cost estimated by JPMorgan. If prices remain at or below this level for an extended period, it could create downward pressure on miners and Bitcoin's price. However, several factors continue to support institutional investor optimism:
-
Morgan Stanley now allows wealth advisors to recommend spot Bitcoin ETFs;
-
Liquidation pressures from the Mt. Gox and Genesis bankruptcy cases may have passed;
-
The FTX bankruptcy could release tens of billions of dollars in cash by year-end, stimulating market demand;
-
Both U.S. presidential candidates may support crypto-friendly regulations;
Add to Favorites
Share to Social Media
