Morgan Stanley Backs Institutional Bitcoin Adoption with 2-4% Allocation Recommendation

Morgan Stanley has given its clients guidance on allocating a portion of their portfolios to Bitcoin, recommending between 2% and 4%. This move is significant, as it comes from one of the largest financial institutions in the world with over $10 trillion in assets under management.

The firm's stance is seen as a direct signal that institutional adoption of Bitcoin is gaining momentum. BTC is currently trading within its Bollinger band, with an upper resistance level at $65,009.95.

Analysts have noted that the 50-day exponential moving average (EMA) and 200-EMA are providing layered support for the cryptocurrency, while the MACD indicator confirms a golden cross. The Relative Strength Index (RSI) is neutral, suggesting continuation rather than exhaustion of the current trend.