Bitcoin Stalls at $64K as Ethereum Institutional Secures Major Funding
The Bitcoin price has failed to sustain its rally once again, remaining cautious and trading within a narrow range. Despite reaching $65K on Thursday, the price fell back down to $64K at the start of European trading hours.
This trend is consistent with previous instances where the price declined towards the 200-week moving average, leading to prolonged consolidation periods. Analysts have repeatedly warned about this possibility.
Ethereum Institutional has secured over 100 investors in its ecosystem funding round, which will focus on accelerating work with banks, asset managers, and custodians within the ETH blockchain.
The number of Ethereum wallets with a non-zero balance has exceeded 200 million for the first time, according to Santiment. This milestone represents significant investor activity on the network.