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Crypto

Bitcoin Price Tumbles Amid Institutional Inflows

Guavy AI Editorial Team
Instruments
BTC
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The price of Bitcoin (BTC) continues to decline, trading at $79,577 and marking a daily drop of 1.68%. Despite this downward trend, BTC remains above its long-term moving average.

The recent influx of institutional capital into spot Bitcoin ETFs in the US has reached $730.9 million, with BlackRock's iShares Bitcoin Trust (IBIT) leading allocations.

This substantial flow of funds reflects renewed demand for physically-backed Bitcoin funds and expands the pool of institutional assets allocated to the cryptocurrency.

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