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The cryptocurrency market kicked off the highly anticipated “Uptober” cycle with strong upward momentum today, as Bitcoin BITSTAMP:BTCUSD jumped over 2.2% to trade around $86,150.The rally follows a $3 trillion bank raising its Bitcoin price target and spot ETF inflows turning positive again.Bitcoi…
Bitcoin came under pressure below $84,000 on Thursday after failing to close above the $85,000 resistance zone in the previous session, amid early signs of weakening institutional demand, alongside rising US Treasury yields and a stronger dollar.
Citi projects $5 billion in cryptocurrency investment product inflows over the next 12 months as advisors gradually increase allocations.