Crypto Market Structure Strengthens as Banks Boost ETF Holdings

The crypto market structure continues to strengthen as Q2 13F filings show banks increasing their crypto-linked ETF holdings.

Institutional investors' revived interest in Bitcoin and analysts' view that the market bottom is nearly complete have been the talk of the town lately.

Despite the US Senate's failure to schedule a floor vote for the CLARITY Act before the August recess, the CFTC and SEC announced plans to push forward with crypto-supportive rules in its absence.

The positive shift in sentiment is backed by multiple metrics entering neutral to slightly bullish territory.

However, the remainder of August is chock-full of pivotal economic events that could impact Bitcoin's price action.